Ukraine bans debt collection from businesses in the occupied and frontline territories

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President Volodymyr Zelenskyy signed Law No. 12148, which protects the interests of Ukrainian entrepreneurs during martial law. About this reported on the website of the Verkhovna Rada.

The law exempts certain businessmen, including farmers, from the obligation to repay loans (principal, interest, commissions and other payments) and leases during the war and for one year after it ends.

The document is intended to support those entrepreneurs who have lost the ability to run their business due to the war. This applies to businesses whose property is located in the occupied territories or in the war zones.

The law applies to loans that were taken out before Russia’s full-scale invasion, provided that the borrowers are now unable to fulfill their obligations due to the war.

The law comes into force on the day following its official publication, August 9.

• The National Bank from August 6 eased certain currency restrictions for business.