The National Bank of Ukraine (NBU) has granted businesses the ability to reimburse coupon payments on Eurobonds made between February 24, 2022, and July 9, 2024, using their accumulated foreign currency reserves in Ukraine.

"Only enterprises without unresolved currency oversight issues related to export operations within 12 months prior to the transaction date will be eligible to perform these transactions," the central bank stated in a press release on Monday.

The NBU believes this will incentivize exporters to return foreign earnings to Ukraine in a timely manner.

The NBU emphasized that these transfers are only allowed using a business's own foreign currency – not purchased or borrowed funds – ensuring no negative impact on international reserves.

According to Resolution No. 108 of the NBU's Board, dated September 6, 2024, and published on Monday, the new policy permits the transfer of dividends on corporate rights or shares of nonresidents within a business group that issued eurobonds. These transfers must be made through a single bank, and the total amount cannot exceed the coupon payments on the eurobonds.

Previously, currency relaxations permitted such operations for coupon payments on eurobonds starting from July 9, 2024.