The Ministry of Justice informs that the Law of Ukraine “On Factoring” amends the Law “On Banks and Banking Activities”, which gives the Ministry the right to obtain information constituting banking secrecy for the purposes of representing the interests of the state of Ukraine in foreign jurisdictions, in particular in international arbitrations.
This mechanism is effective from the date of entry into force of the Law (July 30, 2025) and applies to the period of martial law and two years after its end. The norm applies in cases involving disputes involving Ukraine and persons associated with the aggressor state.
This decision solves a problem that has long prevented the full protection of Ukraine’s interests. Previously, the Ministry of Justice did not have access to some of the important evidence in cases against entities associated with the aggressor state due to restrictions on obtaining information constituting banking secrecy.
The new mechanism allows requesting the necessary information directly from banks.
