On 6 February 2025, the President of Ukraine signed Law No. 4213-IX dated 14 January 2025 "On Amendments to Certain Laws of Ukraine in the Field of Energy and in the Field of Heat Supply to Clarify Provisions Related to the Martial Law in Ukraine" (the Law).

In 2022, the Parliament of Ukraine passed legislation introducing an alternative method for recording and holding shares in limited liability companies (LLCs) and additional liability companies (ALCs). This development allows LLC and ALC shareholders (participants) to transfer recording of their shares from the State Register of Legal Entities, Private Entrepreneurs and Civic Associations (“State Register“) to the PJSC “National Depository of Ukraine” acting as the Central Securities Depository (“CSD“). This shift promises enhanced transparency, security and efficiency in share ownership, marking a new chapter for businesses and investors alike.

Sayenko Kharenko, working with Latham & Watkins and Westerberg & Partners, has successfully represented Ukraine before the Svea Court of Appeal in setting aside the challenge of a USD 6 billion Energy Charter Treaty award.

Avellum, working with White & Case, has advised the Ministry of Finance of Ukraine on a USD 20 billion loan from the U.S. Department of the Treasury provided under the EUR 45 billion G7 Extraordinary Revenue Acceleration Loans for Ukraine initiative.

Sayenko Kharenko has advised the Export and Investment Fund of Denmark on a EUR 3.17 million loan facility to Ristone Holdings.

Kyrylo Kazak has become the new Managing Partner of KPD Consulting, taking over from Ihor Kalitventsev.

Vasil Kisil & Partners has successfully represented Kamianske Agro, part of the Dnipro Agro Group, in a tax dispute exceeding UAH 18 million.

The Agreement on Conformity Assessment and Acceptance of Industrial Products ("ACAA") is an intermediary step for Ukraine to benefit from the mutual recognition of product quality between the EU and Ukraine until our country becomes a full EU Member State.

Eversheds Sutherland has advised the Foreign Expansion Fund 2 FIZAN of Polski Fundusz Rozwoju on debt financing to Euvic for the acquisition of stakes in five companies operating in the IT sector in Lviv, Kyiv, Kharkiv, and Vinnytsia.

Dentons has advised Guris on the connection of its solar power plant to the connection grid of its wind farm in Ukraine.

Avellum has advised Ukrnafta on obtaining approval from the Antimonopoly Committee of Ukraine for the acquisition of Shell’s Ukrainian business – a network of petrol stations.

Sayenko Kharenko has advised the Export and Investment Fund of Denmark and additional banks on a EUR 370 million project finance facility for the expansion of DTEK’s Tyligulska wind farm. 

Integrites has advised German-French defense contractor KNDS on a joint venture with a Ukrainian partner to maintain, refurbish, and overhaul Gepard self-propelled air defense systems.

Sayenko Kharenko has provided pro bono support for a cultural initiative that aims to set war-time poems, written by Ukrainian defenders, to music. 

A new law that will significantly improve the grid connection of renewables was approved by the Ukraine’s parliament, the Verkhovna Rada, on January 14, 2025.

In 2024, the financial market in Ukraine has remained resilient and stable even though the Russian full-scale military aggression against Ukraine approaches its third anniversary. This has been possible due to the continuing financial support coming from Ukraine’s allies and international donors. Notably, G7 leaders have recently announced a USD 50 billion lending package for Ukraine to be repaid with revenues from Russian frozen assets.

Simplifying access to financing for farmers can increase the productivity and profitability of the industry, allowing producers and processors of agricultural products to invest in the latest technologies and innovative solutions, enhancing efficiency.

The past year has demonstrated that an ongoing conflict is not an obstacle to development and investment. Despite infrastructure being targeted by shelling, Ukraine’s real GDP grew by 4% in the first nine months of 2024, with expectations that this figure will reach 4.3-4.6% in the coming years. To maintain this growth, Ukraine must actively engage private investments to rebuild its damaged infrastructure and assets.