Currency Control in Ukraine

Currency control in Ukraine means state supervision over currency transactions and cross-border operations for international business activity. Its main aim is to prevent illegal schemes, ensure transparency of financial flows, and safeguard the interests of both the state and businesses. The main controlling authorities are the Ministry of Finance and the State Tax Service. Legislation outlines which operations are subject to control, sets settlement deadlines, and stipulates penalties for violations, including a 0.3% per day late payment penalty. One of the biggest challenges is frequent changes in regulations, especially during martial law when rules may be updated rapidly. For example, in the summer of 2024, new restrictions and terms concerning the export of certain goods and agricultural products took effect. Requirements for currency transactions are periodically updated through NBU (National Bank of Ukraine) resolutions and international standards. Legal support in currency control includes: checking transaction compliance with the law; contract analysis; representation in disputes with authorities; and appeals against sanctions. First, lawyers assess risks and prepare recommendations for document processing and audits. If state controls or audits occur, specialists provide support, prepare statements, and—if needed—represent clients in administrative or judicial procedures. Thanks to this approach, companies minimize financial losses, cooperate effectively with banks and tax systems, and avoid unplanned account blocks. Ongoing legal support protects from sanctions and also helps leverage new business opportunities as laws evolve.