Business Week: Competition for the head of customs, a new director of the State Bureau of Investigation, and currency easing from the National Bank

Last week was packed with events that will have long-term consequences for the Ukrainian economy and public administration. After almost four years of waiting, the government finally launched an open competition for the position of head of the State Customs Service, involving international experts in the process. Simultaneously, the long-standing saga of appointing the director of the Bureau of Economic Security concluded – the position was taken by experienced NABU detective Oleksandr Tsyvinskyi.

On the international stage, Ukraine is actively developing its defense partnership with the United States, having prepared a draft drone agreement that President Zelenskyy called potentially "one of the strongest." At the same time, new American tariffs are creating new realities for global trade, although Ukraine remains in relatively favorable conditions for now.

The National Bank continues its policy of gradual liberalization of currency regulation, providing businesses with more opportunities for dividend operations and international settlements. The Cabinet of Ministers presented a macroeconomic forecast with two scenarios, reflecting an approach to planning under martial law. LIGA.net reports on the key events of the week that is passing.

The government has announced the start of a competition for the position of head of the State Customs Service

Government started the open competition process for the position of head of the State Customs Service. The competition committee included representatives of Ukrainian businesses and international experts in the field of customs policy and anti-corruption.

Along with launching the competition, the government approved a medium-term plan for implementing customs reform, which is part of the National Revenue Strategy until 2030.

As is known, the State Customs Service has been without a permanent head for almost four years, since November 2021, when Pavlo Ryabikin moved to to work in the Cabinet of Ministers.

Ukraine has prepared a draft agreement on drones with the United States

Kyiv prepared draft drone deal with Washington, stated President Volodymyr Zelenskyy after a phone call with his American counterpart By Donald Trump.

The parties also discussed bilateral defense cooperation. The draft agreement on drones has already been prepared by the Ukrainian side. According to Zelenskyy, Ukraine is ready to discuss it in detail and conclude it.

The president emphasized that this could be "one of the strongest deals."

In July, it became known that Ukraine and the USA are preparing a drone agreement regarding sale Ukrainian drones in exchange for American investments and the purchase of weapons from the United States.

NBU eases currency restrictions for businesses

The National Bank, starting August 6th softened Specific currency restrictions for businesses. Dividend transfers for 2023 are now permitted (previously only 2024 was allowed) within a limit of €1 million per month.

According to the NBU, businesses will be able to use the foreign currency liquidity repatriated in the form of dividends abroad for other purposes, including fulfilling debt obligations.

In addition, forward transactions for the sale of currency without delivery of the underlying asset are permitted, and the possibility of purchasing currency on a "forward" basis is provided to hedge import risks.

It has also become possible to return mistakenly transferred funds in foreign currency, and maritime agents have been given the opportunity to transfer money abroad to return unused funds to shipowners.

The NBU also decided to unify the rules for loans provided by a pool of foreign creditors with the participation of international financial organizations.

Trump's massive tariffs have taken effect: who will suffer the most?

The increased US tariffs imposed by the Donald Trump administration, have come into force August 7th. They will concern dozens of countries around the world, including the European Union.

Some tariffs resulted from framework agreements (as, for example, in the case of Great Britain), but for most countries, the tariffs were set by Trump's unilateral decision.

Updated duties:

Brazil – 50%; Syria – 41%; Myanmar and Laos – 40% each; Switzerland – 39%; Canada, Iraq, and Serbia – 35% each; Algeria, Libya, Bosnia and Herzegovina, South Africa – 30% each; India, Brunei, Kazakhstan, Moldova, Tunisia – 25% each; Taiwan, Vietnam, Sri Lanka, Bangladesh – 20% each; Philippines, Indonesia, Cambodia, Malaysia, Thailand, Pakistan – 19% each; Nicaragua – 18%; Japan, European Union, South Korea, Vanuatu, Fiji, Turkey, Iceland, New Zealand, Nigeria, Norway, Afghanistan, Angola, Bolivia, Botswana, Cameroon, Chad, Costa Rica, Ivory Coast, Lesotho, Democratic Republic of Congo, Ecuador, Equatorial Guinea, Guyana, Israel, Jordan, Ghana, Liechtenstein, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Nauru, North Macedonia, Papua New Guinea, Trinidad and Tobago, Venezuela, Zambia, Zimbabwe, Uganda – 15% each; Great Britain and the Falkland Islands – 10% each.

Imports into the United States from other countries, including Ukraine, will be subject to a basic tariff of 10%. At the same time, the overall average effective tariff rate will increase to over 17%.

The National Bank stated that cryptocurrency cannot be used as a means of payment

Andriy Pishny, Governor of the National Bank of Ukraine said, stating that virtual assets will never be able to become a means of payment in Ukraine, calling it a "red line" for the NBU.

According to him, it is important for the NBU that our "red lines" are clearly observed. Virtual assets cannot be a means of payment, and cannot undermine the effectiveness of our monetary instruments in any way. No transfer of monetary powers and undermining of the National Bank's capabilities should occur in view of the legalization of virtual assets, Pishnyy noted.

The hryvnia is and will remain the only legal tender in Ukraine, Pishny stressed. At the same time, the NBU does not rule out the possibility of launching an e-hryvnia – a digital form of cashless hryvnia – in the future.

Ukrainian Railways has developed a plan to overcome the shortage of train tickets within three years

PJSC "Ukrzaliznytsia" developed a strategic plan aimed at overcoming the shortage of passenger tickets over the next three years.

The situation with train tickets in Ukraine sharply deteriorated in the summer of 2025. On key routes, demand for tickets exceeded supply several times over. For example, in the week from July 28 to August 3, the booking system of Ukrzaliznytsia (Ukrainian Railways) recorded 142,000 searches for the most popular route, Kyiv – Lviv, while only 18,465 seats were available.

The company explains that the seat shortage is primarily caused by the loss of rolling stock. Between 2019 and 2024, 1087 passenger cars were taken out of service. In 2025-2029, another 300 cars will have to be decommissioned due to reaching their service life limit.

Ukrzaliznytsia (Ukrainian Railways) plans four main steps to solve the problem of seat shortages:

• increasing the efficiency of rolling stock utilization;
• large orders for new wagons. After a period of low supplies (zero wagons in 2012-2015), it is planned to purchase 100 wagons annually during 2026-2028;
• increase the share of daytime high-speed traffic to 30% within three years and to 40% within five years;
• Restarting regional transport.

The Cabinet of Ministers updated the macroeconomic forecast for Ukraine with two scenarios

Cabinet of Ministers published a new macroeconomic forecast for Ukraine for 2026-2028. The forecast includes indicators such as GDP growth rate, consumer price index, unemployment rate, etc.

It takes into account two scenarios for the development of events, depending on the security situation in the country. The first scenario is the base scenario, and the second is an alternative scenario, which takes into account the continuation of hostilities in 2026.

Under the first scenario, the gross domestic product will grow by 4.5% in 2026 (and further by 5% in 2027 and 5.7% in 2028), while under the second scenario it will only grow by 2.4% (and further by 4.7% in 2027 and 4.5% in 2028). In the first scenario, annual inflation will slow down faster – from 8.6% in 2026 to 5.3% in 2028. In the scenario with the continuation of hostilities, it will be 9.9% in 2026 and 7.5% in 2028.

Both scenarios predict an increase in the average monthly nominal salary from 30,000 UAH in 2026 to over 39,000 UAH in 2028.

Under both scenarios, the country will have a very large trade deficit – meaning imports will exceed exports. Under the base scenario, the trade deficit will amount to $34.7 billion in 2026, gradually decreasing to $33 billion in 2028.

The Cabinet of Ministers appointed Oleksandr Tsyvinsky as the director of the State Bureau of Investigations

Cabinet of Ministers appointed the director of the Bureau of Economic Security is Oleksandr Tsyvinskyi, a senior detective of the NABU (National Anti-Corruption Bureau), who won an open competition with the participation of international experts.

On June 24, 2025, the competition committee recognized Tsyvinskyi as the winner of the competition for the position of director of the BEB. According to the law, the government had 10 days to appoint Tsyvinskyi, but the Cabinet of Ministers of Denys Shmyhal failed to fulfill this requirement..

An excerpt from the minutes of the government meeting on July 7, at which Tsivinsky was discussed, states that his candidacy was rejected "taking into account the information contained in the letter from the SBU."

According to unofficial information, the claim against Tsivinsky was based on his father's Russian citizenship. For in words As for Tsivinsky himself, he hasn't spoken to his father for about 10 years and doesn't know if he has Russian citizenship.

After the government reshuffle, the new Prime Minister, Yulia Svyrydenko, agreed that Tsyvinskyi will take a polygraph test., in order to dispel doubts regarding the appointment to the State Bureau of Investigations.

Trump imposed tariffs on the purchase of Russian oil

U.S. President Donald Trump, August 6 signed a decree entitled "Countering Threats to the United States from the Government of the Russian Federation," which imposes punitive sanctions against India for purchasing Russian oil.

Similar measures may be applied to other countries in the future. The decision is motivated by the "unusual and extraordinary threat" to US national security posed by Russia's policy towards Ukraine.

The decree states that India directly or indirectly imports Russian oil, which undermines the effectiveness of sanctions against Russia in connection with the war against Ukraine.

In response, the US decided to impose additional trade barriers against India. A 25% tariff will be levied on all goods from India in addition to existing tariffs and fees.

Arbitration closed the $700 million lawsuit of Kolomoisky's company against Ukraine in the Aerosvit case

The international arbitration tribunal has definitively terminated the proceedings in the lawsuit filed by Gilward Investments B.V., a company associated with businessmen. By Ihor Kolomoisky and Georgy Gurtovoy, to Ukraine.

The Ministry of Justice stated that the reason was that the plaintiff failed to pay the mandatory arbitration fee of $150,000, despite repeated warnings.

The lawsuit was filed back in 2015. The company demanded approximately $700 million, claiming that the actions of Ukrainian government agencies allegedly led to bankruptcy. Aerosvit AirlinesAmong the claims were restrictions on access to international routes, the transfer of exclusive rights to a competitor (UIA), expropriation of land at Boryspil Airport, delays in VAT refunds, and interference in the bankruptcy proceedings.

As is known, in 2012 the country's largest airline, Aerosvit, declared bankruptcy. Its debts exceeded 4.27 billion hryvnias. In 2015, the Kyiv Regional Economic Court declared Aerosvit bankrupt and decided to liquidate the company.