#11 November 2018

In focus – Energy

The situation inside and around our country during 2014-2015 has thrown cold water on political force in power.
Urgent measures in the energy sector have been called into action throughout the past few years, anchored by several factors. These are commitments under the Energy Community and the EU Ukraine Association Agreement, requirements in cooperation with international donors, arbitration in Stockholm and reconsideration of the states transit status...

Expert Opinion

Draft New Rules on Geological Information in Ukraine: New Hope, or the Empire Strikes Back?

Pavlo Byelousov, Oleksandr Zablotskyi

In all kinds of literature, the search fortreasure is an important part of the plot representing, inter alia, a simple moral: a great deal of human effort is required to get the ultimate reward. Unfortunately, in the oil and gas and mining sectors it often does not work that way, especially in Ukraine.

Substantial areas of land may be surveyed with no, too little, or only too hard to produce reserves found. Surveying land is not only often fruitless but also costly...

In Re

Unbundling of the Ukrainian Gas Transportation System: Quo Vadis

Taras Dumych

The importance of the Ukrainian gas transportation system (GTS) for the countrys economy and national security cannot be underestimated. Furthermore, the significant role of the GTS in ensuring the transit of natural gas to a number of countries in Central and Southern Europe is also internationally recognized. However, all of this does not change the fact that the GTS and gas transportation and transit via GTS is a business existing in the same way as other such businesses exist in Europe and in many other countries around the globe...

Due Diligence of Renewable Energy Projects

Olena Yasentiuk

According to the official statistics of the National Commission which performs state regulation in the energy sector and utilities, 160.1 MW of renewable energy facilities were commissioned as of the third quarter of 2018. This figure is 2.4 times more than in the same period in 2017...



Sayenko Kharenko advised Mriya Agro Holding

Baker McKenzie assisted Monsanto

Asters legal counsel to VR Capital Group

EY Ukraine advised Horizon Capital

Wolf Theiss legal counsel to Munich RE

AEQUO advised EBRD on USD 20 million secured loan to Astarta Group

Baker McKenzie advised Diligent Capital Partners


Settlement reached between Kyivteploenergo and NJSC Naftogaz of Ukraine

Raiffeisen Bank to try to seize property of Ukrainian subsidiaries of Milkiland via court

Court rejected claim filed by iPhone users against Google

Ukreximbanks claims against Ukrtelecom dismissed


Token status and tax privileges

Principles of environmental policy outlined

Improving financial restructuring procedure



Case against Kyivstar and Vodafone dismissed

The EU

European Parliament supported ban on one-time plastics

International Monitoring

Facebook could be fined more than USD 1.6 billion


Centrenergo privatization terms approved


Visa to integrate Hyperledger blockchain technology

Samsung opens artificial intelligence development center

Real Estate

CMS European Real Estate Deal Point Study 2018

Lawyers News

In October 2018, KPMG in Ukraine traditionally began a new financial year, which was marked by appointment of new partners of the company. Oksana Olekhova takes up her new appointment in the Tax and Legal Department and Olivia Allison in the Risk Consulting and Forensic Department...


Changes in procedure for recognizing bank ownership structure non-transparent

Disclosure of information in extraction business

Chamber News

The Chamber presented the vision on further development of customs policy in Ukraine

The American Chamber of Commerce in Ukraine held a presentation of the brand new publication Guidelines for Customs Policy in Ukraine prepared jointly with experts from a Chamber Member Company EY Ukraine...

Cover Story

Sustainable Perspective

The Ukrainian energy sector has needed reforms since the country became independent. The sector is strategically important and politically sensitive as it establishes the conditions of national security. The rules of the game in the sector raise significant concerns among international energy market players.

Over this outgoing year the sector has undergone massive legislative changes, and even greater enforcement issues. What is the energy agenda of late? Does it give grounds for optimism? We talked to Olena Kuchynska, partner at the Kyiv office of Kinstellar to find out if she sees a sustainable perspective.

Hot Issue

Detention of Vessels in Azov Sea: Which Answer Could Ukraine Give?

Artem Volkov, Sergey Nedelko

Unsettling statistics

According to data from the Ministry of Infrastructure of Ukraine during the period from 29 April to 20 September 2018, the Border Guard Service of the Russian Federation arrested more than 200 vessels, steering to the Ukrainian ports of Mariupol and Berdyansk and back in the Azov Sea, for inspection. In addition to the above-mentioned 120 vessels were under the flag of countries of the European Union. And starting from 14 August 2018 Russia has completely blocked passage for merchant vessels steering to Ukrainian ports through the Kerch Strait, having not allowed any vessel to pass within a week (14-21 August)...


Challenges and Problems of Solid Waste in Ukraine

Vitaliya Karhova

It is a well-known fact that the issue of solid waste in Ukraine is permanently under discussion, and unfortunately, the problem is still not being solved. However, Ukraine is on its way to finding a solution to this issue...


All Roads Led to Rome

The flagship legal conference of 2018 was held by the International Bar Association (IBA) in Rome. On 7-12 October, the Eternal City gathered around 7,000 participants (and a huge number of lawyers not formally registered) from different cultures and legal areas. These included not only representatives of law firms, solo practitioners and general counsels, but state officials, ex-politicians, representatives of legal tech and other support services, dispute resolution centers, providers of legal education, publications and professional media. The Ukrainian delegation has probably never been as big as this week in Rome...


Legal Digest

Last month was notable for a number of legislative initiatives, like the draft laws On Changes to the Tax Code of Ukraine in Relation to Taxation of Transactions with Virtual Assets in Ukraine; On Amendments to Certain Legislative Acts of Ukraine on Improving Respect for the Rights of Participants in Criminal Proceedings and of other Persons by Law-enforcement Bodies during a Pre-Trial Investigation; technical regulations on the eco-design of energy-consuming products amendments to the Customs Code of Ukraine aimed at optimizing control procedures at Customs points. Our team also enquired aboutthe new law On Electronic Trust Services; Draft Law On Capital Markets; the Code of Ukraine on Bankruptcy Proceedings; the procedure for the disclosure of information on a banks ownership structure and other drafts.

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