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2 Minutes read

The National Bank of Ukraine Eases Currency Restrictions

Legal updates
May 2, 2026
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home - Legal updates - The National Bank of Ukraine Eases Currency Restrictions

Since the start of the full-scale invasion in February 2022, the National Bank of Ukraine has maintained strict capital controls and currency transaction restrictions. Resolution No. 18 (24.02.2022) became the key document governing the banking system under martial law. On 23 April 2026, the NBU Board adopted Resolution No. 43, introducing a series of amendments – mostly in favour of market participants.

What has changed

Defence contracts. Restrictions on resident accounts have been lifted where funds are received from foreign states or their authorised agencies to finance the production of military and dual-use goods for Ukraine’s security and defence forces. A similar exemption now applies to foreign currency purchases using budget funds under state defence contracts.

Salaries and payments to non-residents. From 1 May 2026, non-resident individuals may transfer abroad salaries and civil-law contract payments earned in Ukraine. Legal entities may also directly transfer such payments to non-resident members of supervisory boards and executive bodies.

Transfers for non-resident military personnel. The rules for transferring military pay have been updated: for funds credited before 1 May 2026, the cap remains at UAH 400,000 per calendar month; for funds credited from 1 May 2026 onwards, the cap is removed entirely.

Foreign fighters in the Armed Forces of Ukraine (Russian/Belarusian nationals). Banks are permitted to credit UAH-denominated funds to the accounts of such individuals from Ukrainian residents and non-residents without prior SBU approval.

Support for Ukrainians abroad. State-owned enterprises (with 100% state ownership) are now permitted to transfer funds abroad under the programme supporting and facilitating the return of Ukrainians, approved by the Cabinet of Ministers in December 2025.

Conclusion

Resolution No. 43 continues the gradual easing of wartime currency controls by simplifying defence-sector settlements, enabling payments to foreign specialists, and expanding the rights of non-resident military personnel. The Resolution entered into force on 25 April 2026.

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For more information, please contact an imagine Lawyers`s specialist:
Margarita Karpenko Alla Kozachenko Illya Sverdlov Galyna Zagorodniuk Mariia Poptanych

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