As Ukraine grapples with geopolitical upheaval and economic uncertainty, private dispute-resolution mechanisms have emerged as vital alternatives to an overburdened court system. Kinstellar Partner Olexander Martinenko and Managing Associate Danylo Volkovetskyi explore recent legislative reforms, market fragmentation, wartime influences on institutional uptake, and the shifting preferences of businesses and state enterprises toward arbitration and mediation.

The effectiveness of investments traditionally depends on returns on investment; therefore, taxation implications are a key factor when repatriating profits out of Ukraine.

Avellum has advised the European Bank for Reconstruction and Development on a new senior loan of up to EUR 50 million to a Ukrainian postal company.

On 16 July 2025, the Government of Ukraine adopted Resolution No. 902, which establishes a procedure for the production, procurement, and supply of explosives and ammunition (the "Procedure"). The Procedure will remain in effect for the duration of martial law and for 12 months following its cancellation or termination.

In its resolution in case No. 500/2276/24 dated 16 July 2025, the Grand Chamber of the Supreme Court set out important conclusions regarding the time limits for filing claims with administrative courts in tax disputes.

Avellum has advised the Ministry of Finance of Ukraine on three loans provided under the G7 Extraordinary Revenue Acceleration Loans for Ukraine initiative, including a GBP 2.26 billion loan from the United Kingdom, a CAD 5 billion loan from Canada, and a JPY 471.9 billion loan from Japan. Hogan Lovells reportedly advised the United Kingdom. Sayenko Kharenko, working with Borden Ladner Gervais, advised Canada.

On 6 – 7 August 2025, a new package of changes to currency restrictions in Ukraine came into force. The National Bank of Ukraine (the "NBU") introduced currency restrictions in February 2022, following the onset of Russia’s full-scale invasion.

LCF Law Group’s Energy and Projects practice has had a busy year in Ukraine, with Partner Ivan Bondarchuk highlighting major energy infrastructure mandates – from renewables and storage to gas power plants – alongside critical road and grid projects, post-war recovery initiatives, and increasing interest from international investors preparing for the post-war market.

As in previous years, Ukraine’s TMT regulatory framework continues to evolve, even amid the wartime challenges. The overarching legislative objective remains largely the same – alignment of Ukrainian law with the EU legal framework, particularly in areas shaped by digital transformation and technological advancement.

Asters, working alongside lead counsel Quinn Emanuel Urquhart & Sullivan, has represented Oschadbank in its latest legal action against the Russian Federation, seeking compensation for investment losses in the temporarily occupied territories of Donetsk, Luhansk, Kherson, and Zaporizhzhia regions of Ukraine.

On 28 February 2025, the President of Ukraine signed the Law of Ukraine "On the Peculiarities of Regulating the Activities of Legal Entities of Certain Organizational and Legal Forms in the Transition Period and Associations of Legal Entities" No. 4196-IX, adopted by the Ukrainian Parliament on 9 January 2025 ("Law"). The Law will come into effect on 28 August 2025.

Baker McKenzie has advised MHP on its acquisition of over 92% of the share capital in Grupo UVESA. Garrigues reportedly advised the sellers.

CMS, working with Cyprus-based Michael Damianos & Co, has advised ING Bank on a pre-export finance facility provided to a Ukrainian agricultural group.

Avellum has advised Verholy Relax Park on the sale of a stake in the resort and hotel complex. Moris advised the buyer, Bohdan Yesipov.

Kinstellar, working with Addleshaw Goddard, has advised Phoenix Equity Partners Limited on its acquisition of FutureMeds, including subsidiaries in Bulgaria and Ukraine. DLA Piper reportedly advised the sellers.

Asters, working with Hogan Lovells, has represented PrivatBank in multi-billion-dollar litigation against its former owners, Ihor Kolomoisky and Gennadiy Bogolyubov, before the High Court of Justice in London.

Ukraine is cautiously advancing with economic reforms, especially in governance and institutional appointments, and nurturing investor interest despite ongoing challenges, according to Avellum Managing Partner Mykola Stetsenko. Key sectors like defense and state-owned enterprises are evolving, while the legal market is becoming more professional and dynamic.

On 6 August 2025, amendments to the National Bank of Ukraine's (NBU) Resolution No.18 came into force. Approved by Resolution No.95, they introduced a new stage of foreign currency liberalisation. The changes are intended to support export-oriented enterprises, the jewellery sector, importers and to expand the possibilities for risk hedging operations and the performance of external debt obligations.