The National Bank has acknowledged that it cannot independently solve the issue of fuel importers, which are banned to purchase foreign currency on the interbank for making advance payment, Economic truth reports.
As the edition reports, companies, which import goods of “critical import” to Ukraine, have lost such right, on January 1, 2016.
“We forwarded the letter to the Ministry of Economic Development and Trade in advance, this was in December 2015, when we understood that there won’t be critical import since the beginning of the year. Unfortunately, NBU cannot qualify this critical and this uncritical. And we offered MEDT to confirm the same list, which we were guided by, while identifying critical import”, NBU Governor Valeria Hontareva stated.
However, it failed to solve the issue even for a month, the edition reports.
“Unfortunately, MEDT responded us that they won’t deal with it. After this we forwarded the letter to the Prime Minister and he gave order to sign this “critical letter”. We know that what critical import is, we even know what it is included in it, but unfortunately these are not NBU authorities. If we could do this, we would do it on January 1, because it is also clear for us”, - NBU Governor explained.
By its resolution №124 NBU has reportedly complicated the advance payment of import for the amount of USD 50 ths – such operation can be conducted only via letter of credit. Restrictions did not affect the import of “vital products”.
“According to the law № 73-VIII this is oil, gas, fuel for NPS, electrical energy, coal, petrol, fuel oil, diesel fuel, pharmaceuticals for oncology patients and VAT-exempt medications, some commodity groups, which are imported duty-free”, the edition reports.
In addition, the edition reminds that this law imposed the additional import duty in the amount of 5% and 10% for 2015 for commodities, imported in Ukraine.
But the duty was not collected from vital commodities. However from January 1, 2016, the Law became invalid.
As the edition reports, that’s why at the beginning of the year fuel companies have faced with impossibility to purchase currency for advance payments.
The issue of fuel importers also consisted in the fact that that as per NBU requirements, the letter of credit will be only from high-class banks, as it is reported in the material.
“This requirement virtually excluded scheme and fraud transactions with fuels. Knowing the condition of fuel market of Ukraine it is clear that many traders will have to withdraw from market, as the fictitious and semi-legal import channel is closed”, senior analyst of Empire State Capital Partners Tanteli Ratuvukheri.
Experts also noted that in spring this problem can become more critical.
