In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With 2024 behind us, we asked: Looking at transactional volumes for this year, would you say that 2024 was better or worse than what you originally expected it to be, and why?
Shielding Investments: War-Risk Insurance in Ukraine
In the midst of ongoing conflict, one solution is emerging that could be a crucial factor in attracting foreign investment to Ukraine: war risk insurance. Asters Senior Partner Armen Khachaturyan, Dentons Partner Adam Mycyk, Integrites Partner Igor Krasovskiy, and Redcliffe Partners Managing Partner Olexiy Soshenko discuss how this specialized insurance product is shaping the investment landscape.
Asters Advises IFC on Nibulon's USD 120 Million Loan Facility Restructuring
Asters has advised the International Finance Corporation on the restructuring of a USD 120 million loan facility provided to Nibulon. Baker Botts reportedly advised Nibulon.
Yuna Potomkina Makes Partner at Asters
Asters has promoted Yuna Potomkina to Partner.
New Regulation of Cloud and Data Center Services in Ukraine
On 11 February 2025, the Ukrainian Government adopted a resolution regulating various aspects of cloud and data center services (the "Services") provision and use. In particular, the resolution introduces:
Law No. 4213-IX: Revolutionary Changes in Grid Connection
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).
Ukraine: Employee Incentives – Important Employment Law Considerations
Keeping employees motivated and engaged, and retaining the brightest talent can be an effortful task for businesses. Employers agree that fixed net income and mere compliance with basic employment standards are not sufficient and, thus, promote incentive programs as a recognized instrument to navigate this challenge. While worldwide trends in incentivizing employees are similar, each country has developed a set of its own legislative rules and market practices – and Ukraine is no exception.
Asters Launches Forensic Practice
Asters has launched a new Forensic practice headed by Counsel Sviatoslav Ogreba.
Finding Niches in Ukraine: A Buzz Interview with Armen Khachaturyan of Asters
Amid the daily disruptions of war, Ukraine’s legal market has shifted focus to urgent areas like military law, sanctions compliance, and damage compensation, while adapting to workforce shortages and declining revenues, according to Asters Senior Partner Armen Khachaturyan.
The National Bank of Ukraine Has Relaxed Some Foreign Currency Restrictions
On 21 December 2024, a new package of foreign currency (“FX”) easings came into effect. It is aimed at supporting domestic producers and improving the business environment in Ukraine. The amendments, introduced by Resolution No. 155 of the National Bank of Ukraine (the “NBU”) dated 20 December 2024 (“Resolution No. 155”), include the following measures:
First Successful Application of New Leniency Procedure
A leniency procedure has been in place in Ukraine for over two decades. However, until recently, there was no public record of its successful application by the Antimonopoly Committee of Ukraine (AMC).
Ukraine Updates Rules for Reservation of Persons Liable for Military Service and the Criteria for Granting the Status of Critical Importance to the Enterprise
On 22 November 2024, the Cabinet of Ministers of Ukraine published Resolution No. 1332 dated 22 November 2024 ‘Some Issues of Reservation of Persons Liable for Military Service during Martial Law’ (the ‘Resolution’), which updates the reservation procedure and clarifies certain criteria of criticality.
The Debrief: November, 2024
In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.
Asters Advises DFC on Loan Portfolio Guarantee for ProCredit Bank
Asters, working with Mayer Brown, has advised the United States International Development Finance Corporation on a loan portfolio guarantee for ProCredit Bank.
Ukraine Begins Exporting Biomethane to the EU: New Customs Clearance Rules
On 9 September, the Ministry of Finance of Ukraine officially published Order No. 380 dated 1 August 2024, which introduces significant changes to the regulation of customs clearance of biomethane by pipeline. From now on, Ukrainian biomethane producers will be able to export biomethane to the European Union via the Ukrainian gas transmission system through interstate interconnection points with four EU countries.
National Bank of Ukraine Amends Foreign Currency Restrictions
On 10 September 2024, amendments to the foreign currency (“FX”) regulation came into force, aimed at easing restrictions on business and, on the other hand, at introducing measures to counteract capital outflows.
The Procedure for Reservation of Persons Liable for Military Service During Martial Law Was Amended
The Cabinet of Ministers of Ukraine published Resolution No. 988 dated 16.08.2024, which amended the Procedure for Reservation of Persons Liable for Military Service during Martial Law (hereinafter – the “Reservation Procedure”). Key changes are:
RES Producers Shall Renew Contracts with the Guaranteed Buyer
On 26 July 2024, the National Energy and Utilities Regulatory Commission (NEURC) adopted Resolution 1381, amending key provisions of the following agreements: