UKRAINE Law and Practice Contributed by: Denys Bugay, Volodymyr Vashchenko and Denys Shkarovsky, VB Partners
tion of trade operations, prevention of withdrawal of capital outside the borders of Ukraine, suspen - sion of the performance of economic and financial obligations, etc). In the period to 22 May 2022, this list has been slightly amended, and a new type of sanction in the form of a “ban on acquiring owner - ship of land plots” was added. • Moreover, legislation determined the possibility of imposing “other sanctions which correspond to the principles of their imposition”, actually rendering the list sanctions of inexhaustible. Types of Sanctions After 22 May 2022 Due to the full-scale invasion of the Russian Federa - tion into Ukraine in February 2022, the list of sanctions has been significantly expanded. In particular, new sanctions were added: • prohibition of media distribution on the territory of Ukraine; • prohibition of activities on the territory of Ukraine; • refusal to grant or cancel an immigration permit, permits for permanent or temporary residence in Ukraine; • forced return or forced deportation outside Ukraine; and • prohibition of demonstration and use of symbols of terrorist organisations and groups, promotion of the ideas and programme goals of such organi - sations, and blocking of access to information resources used for these purposes. Also in May 2022, a special type of sanctions – “con - fiscation of assets into state income” – was intro - duced. These can be imposed only during the period of the martial law, and if there are special reasons. 1.4.2 Scope of Sanctions The scope of Ukrainian sanctions is broad, and every individual, state body or other legal entity must com - ply with them. At the same time, the legislation of Ukraine does not yet envisage any liability for violation of sanctions, and/or their circumvention. 1.4.3 Domestic and/or Supranational Measures Sanctions in Ukraine are imposed at a domestic level. Supranational measures also have an effect on the
country’s sanctions policy. Thus, according to the Law of Ukraine “On Sanctions”, the decisions and regula - tions of the Council of the European Union, resolutions of the General Assembly and the Security Council of the United Nations are the grounds for the imposition of sanctions in Ukraine. Moreover, applying mirror sanctions – in other words, imposing sanctions on persons against whom US, EU and UK sanctions have been applied – is typical in Ukraine. The procedure for imposing sanctions in Ukraine involves the joint work of the bodies of various branch - es of government, and key bodies vary depending on the type of sanctions. For typical sanctions – sanctions of the National Security and Defense Council of Ukraine (eg, block - ing assets, banning entry into the territory of Ukraine, etc) – the key bodies are as follows. • The Cabinet of Ministers of Ukraine, National Bank of Ukraine, Security Service of Ukraine, President of Ukraine and Verkhovna Rada of Ukraine, which are all entitled to make proposals for imposing sanctions. • The National Security and Defense Council of Ukraine, which directly decides on imposing sanc - tions. • The President of Ukraine, who, by decree, brings into effect decisions taken by the National Security and Defense Council of Ukraine. For special sanction – confiscation of assets into state income – the main bodies are as follows. • The Ministry of Justice of Ukraine, which can initi - ate the imposition of the above sanction. • The High Anti-Corruption Court, which decision on whether this sanction can be imposed. 2. Overview of Regulatory Field 2.1 Primary Regulators
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