Ukrainian govt adds crude, gas condensate, liquefied gas, timber to list of goods to be sold on commodities exchanges

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27 Jul 2022 11:10

Ukrainian govt adds crude, gas condensate, liquefied gas, timber to list of goods to be sold on commodities exchanges

MOSCOW. July 27 (Interfax) – The Ukrainian government has included crude oil, gas condensate, liquefied gas and timber (timber products) in its list of goods that have to be sold on commodities exchanges.

The government adopted this decision at its meeting on Tuesday, Ukrainian media outlets quoted the government’s representative to the Verkhovna Rada Taras Melnychuk as saying on social media.

Under Ukraine’s new capital market law No.738-IX “On simplified procedure for raising investment and introduction of new financial instruments”, which entered into effect on July 1, 2021, all commodities exchanges are required to receive licenses from the National Securities and Stock Market Commission.

The first exchange that received a license to arrange trade in goods on commodities markets was the Ukrainian Energy Exchange. It was followed by the Ukrainian Universal Exchange and the Ukrainian Interbank Currency Exchange.

In mid-May, the National Securities and Stock Market Commission suspended the license of the Ukrainian Interbank Currency Exchange until the country’s martial law is lifted, but the exchange, acting through the 6th Administrative Court of Appeals, secured the suspension of the regulator’s decision on July 14.