Cracking down on forex earnings: government's plan to repatriate businesses' overseas profits

The National Bank, which halved the timeframe for returning foreign currency earnings to agricultural exporters in the fall, allows for a reduction in the timeframe for other commodities, except for grain, announced Deputy Governor of the National Bank of Ukraine (NBU) Yuriy Heletiy.

"We are currently considering the issue of other commodities to encourage the return of export earnings in this difficult time for the state," he said at a press briefing at the NBU on March 14.

The regulator claims that previous similar initiatives have already brought hundreds of millions of dollars back to the country.