News date: 16 May 2018
Ilyashev & Partners International Law Firm represents the European company – the major grain exporter and distributor – in the process of lifting of the special foreign economic activity (FEA) sanction in the form of application an individual FEA licensing regime in Ukraine, imposed under the Order of the Ministry of Economic Development and Trade of Ukraine. This special sanction is applied for the violation of foreign currency legislation of Ukraine as a result of non-return of foreign currency proceeds.
Owing to the suitable defence tactics chosen to protect the interests of our client, the special sanction was suspended. Ilyashev & Partners’ lawyers filed a petition to the regulatory authorities for the lifting of the FEA sanction from the company, supporting it with evidence that the exporter did not violate the foreign currency legislation of Ukraine and has fulfilled its contractual obligations in full.
It is to be recalled that the individual FEA licensing regime of the foreign entities provides for the individual licensing of each individual foreign economic transaction of a certain type of foreign economic activity in accordance with the provisions of the Law of Ukraine «On Foreign Economic Activity».