Foreign E-Trust Services, a New Mechanism for Insuring Ships Against War Risks

The Government has Adopted a Resolution on Foreign E-Trust Services: What is Provided?

On 14.11.2023, the Cabinet of Ministers adopted a Resolution No 1198 defining the mechanism for recognizing foreign trust services in Ukraine.

It is provided that the adopted provisions will ensure the possibility of using qualified electronic signatures of EU countries in Ukraine, which will allow EU citizens to sign e-documents in Ukraine with their e-signatures, as well as to provide electronic trust services in our country.

Such innovations should facilitate electronic interaction with foreign partners, in particular, when doing business.

It should be noted that this Resolution was adopted to implement the provisions of the Law of Ukraine No. 2801-IX dated 01.12.2022 on mutual recognition of qualified electronic trust services between Ukraine and the EU.

Diia SE is responsible for ensuring the operation of the mechanism for recognizing foreign EDS in practice.

The Resolution will enter into force simultaneously with the said Law, i.e., on 31.12.2023.

Thus, it is expected that the mechanism of mutual recognition of qualified electronic signatures by Ukraine and the EU will be launched in early 2024.

Amendments to the Procedure for Verification of Certificates of Origin during Customs Procedures

On 10.11.2023, the Cabinet of Ministers adopted Resolution No. 1177 to ensure the implementation of the previously adopted amendments to the Customs Code to bring the procedure for determining the country of origin of goods in compliance with the EU Customs Code and free trade agreements.

In addition, the document amends the Procedure for Verification (Verification of the Authenticity) of Certificates and Declarations of Origin of Goods from Ukraine, which provides for

• defining specific grounds for revocation of a certificate containing inaccurate data;
• determining the procedure for informing the customs authority of the country of importation, the relevant competent authority (organization), the manufacturer and/or exporter of the goods about the detected violations based on the results of verification (authentication) of certificates and declarations;
• optimization of the procedure for verification of certificates and declarations initiated by the customs authorities.

The Resolution will enter into force 45 days after its publication, i.e. on 29.12.2023.

The Procedure for Imposing Fines for Violation of Advertising Law Partially Enters into Force

Resolution of the Cabinet of Ministers No. 1178 dated 10.11.2023, amending the Procedure for Imposing Fines for Violation of Advertising Law, has partially entered into force.

The updated Procedure defines the mechanism for imposing fines on advertisers, advertisement producers and advertisement distributors for violation of advertising legislation by the State Service of Ukraine on Food Safety and Consumer Protection and its territorial bodies.

The amounts of possible fines are set out in the Law of Ukraine “On Advertising”.

European Commission Announced Twelfth Package of Sanctions Against Russia

On 15.11.2023, the European Commission proposed the twelfth package of sanctions against russia to the EU member states.

The new package provides for the imposition of sanctions against more than 120 individuals and legal entities whose activities are represented, in particular, in the defense, military and IT sectors.

The European Commission also proposes to impose new import and export bans, as well as measures aimed at strengthening the oil price ceiling and counteracting the evasion of EU sanctions.

No other details were given in the statement of the European agencies yet.

The Government has Created a New Mechanism for Insuring Ships Against War Risks

According to information from the Government Portal from 14.11.2023, the Cabinet of Ministers has created a new mechanism for insuring ships against war risks, which will significantly reduce the current insurance premiums for carriers exporting and importing to Ukraine by sea.

This decision will primarily have a positive impact on the work of grain traders. In turn, the increase in Ukrainian exports by sea should contribute to additional growth of the Ukrainian economy.