Ukrainian lawmakers have passed a bill lifting the ban on buying and selling farmland. The ban or moratorium on land sales has been in place since 2001 and effectively prevents the purchase or sale of land or its utilization as collateral to attract investment into the rural sector.
If passed it will introduce a land market and allow Ukrainian nationals and Ukrainian registered companies to trade land, whilst foreign entities are likely to face restrictions until at least 2024. The international community have long argued for freeing up the land market which has been one of the requirements of the IMF prior to releasing the next aid package.
The President, Volodymyr Zelensky has now said the decision on whether to allow foreigners and companies with foreign ownership to buy land – will rest with voters and will be put to a referendum.
Adam Oliver: firstname.lastname@example.org