On 30 July 2025, the President of Ukraine signed Draft Law “On Amendments to Certain Legislative Acts of Ukraine Regarding the Improvement of the Mechanism for Attracting Private Investments Using Public-Private Partnership to Accelerate the Restoration of War-Damaged Facilities and Construction of New Facilities Related to the Post-War Economic Recovery of Ukraine” No. 7508 (“Law”). This is a comprehensive reform developed since 2022, spanning almost 250 pages. It restates the Law of Ukraine “On Public-Private Partnership” and amends related acts to align them with updated public-private partnership (“PPP”) procedures.

The National Bank of Ukraine (the "NBU") has given the green light to open banking in Ukraine by adopting the relevant Regulation on Open Banking in Ukraine by Resolution of the NBU Board No. 80 on 25 July 2025 (the "Regulation"). Thus, the NBU has taken the final steps towards implementing the provisions of EU Directive 2015/2366 (PSD2) on payment services and Chapter 4 "Procedure for gaining access to user accounts by payment service providers (open banking)" of Section IV of the Law of Ukraine "On Payment Services".

Sayenko Kharenko has advised the European Bank for Reconstruction and Development on a EUR 30 million unfunded portfolio risk-sharing facility with Ukrsibbank.

Sayenko Kharenko has advised Oschadbank as the coordinating bank of a consortium of Ukrainian state-owned banks in securing ownership of BFC Gulliver. Quinn Emanuel Urquhart & Sullivan reportedly advised Oschadbank as well.

Avellum and Hillmont Partners have successfully defended Argentem Creek Partners and Innovatus Capital Partners in a bankruptcy dispute against GNT Group member Olimpex Coupe International before Ukraine’s Supreme Court.

Avellum has advised Lignum Plast on a cross-border investment from Roodwild Participaties. SDM Partners, working with Von Boetticher, reportedly advised Roodwild Participaties.

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.

Sayenko Kharenko has advised Deutsche Bank on a EUR 23.6 million term loan facility extended to Northern Iron Ore Enrichment Works.

Sayenko Kharenko has advised UK Export Finance on a GBP 1.7 billion export loan provided to Ukraine under a UKEF guarantee.

By Resolution No. 847 of 14 July 2025, the Government amended the Criteria and Procedure for designating enterprises, institutions, and organizations as critically important for the functioning of the economy and the maintenance of vital public life during extraordinary periods (the "Criteria").

In a significant move towards economic recovery and strategic growth, Ukraine and its international partners have launched several finance initiatives aimed at mobilizing capital and transforming critical sectors. These efforts, including the United States-Ukraine Reconstruction Investment Fund and other programs announced in 2025, showcase a commitment to rebuilding Ukraine through blended finance models. This article explores these developments and their implications for Ukraine’s future.

Sayenko Kharenko has advised the European Fund for Southeast Europe on a EUR 10 million equivalent loan in Ukrainian hryvnia granted through its Ukraine Sub-Fund to ProCredit Bank. 

Ilyashev & Partners has advised the Estonian Centre for International Development on the registration and legal implementation of an international technical assistance project in Ukraine, aimed at constructing a modern family-type orphanage in the Zhytomyr region.

Integrites has initiated an antidumping investigation on behalf of Ukratlantik LLC and Hydroprom LLC, targeting imports of electric storage water heaters from China into Ukraine.

On 14 June 2025, Law of Ukraine "On Amendments to the Law of Ukraine "On the Organisation of Labour Relations under Martial Law" Regarding Information Exchange and Suspension of Employment Agreements" (the "Law") entered into force.

Sayenko Kharenko has advised the European Bank for Reconstruction and Development on a EUR 10 million loan to the city of Lviv, aimed at ensuring the continued provision of vital municipal services and mitigating the impact of the ongoing war in Ukraine.

Kinstellar, working with Argo, has advised Altenova on its merger with Pyronova Group. KPMG Legal reportedly advised Pyronova.

Integrites has joined the Diia City Union as a legal partner, aligning itself with the professional association of resident companies within Ukraine’s Diia.City legal and tax framework.