Ukraine to shift system for storing state reserves, allowing storage abroad: new law

At a plenary session on Wednesday, the Verkhovna Rada adopted a new law on state reserves of Ukraine, which will replace the current law on state material reserves. The document was supported by 255 parliamentarians, reported Golos MP Yaroslav Zheleznyak.

The Cabinet of Ministers in an explanatory note indicates that the current system of the state reserve of Ukraine was formed during the Soviet Union and does not correspond to the current conditions in which Ukraine finds itself. The main goal of the new system of state reserves is to ensure that Ukraine is provided with all essential items at any time, Prime Minister Denys Shmyhal explained earlier.

One of the important innovations of the updated law is the possibility of storing state reserves abroad, but not on the territory of Russia or other states that promote armed aggression against Ukraine or are under sanctions.

During the martial law, the placement of material assets of state reserves outside of Ukraine is carried out exclusively by the relevant decision of the government.

The new law changes approaches to the work of the state reserve, in particular, demarcates the state material and mobilization reserves and clearly defines their balance holders.

There are also plans to create a single register of state reserves.