Ukraine will allow foreigners to transfer income from bonds from April 2023

Non-residents held $ 2.55 billion in Ukrainian bonds.

Foreign investors holding local bonds will be able to transfer abroad the yield on securities after April 1, 2023. This was announced by the Ukrainian Central Bank, quoted by Reuters

Non-residents held 75.2 billion hryvnias ($ 2.55 billion) in Ukrainian bonds before the start of the war on February 24.

The securities portfolio shrank after the central bank in Kyiv banned the purchase and transfer abroad of foreign currency, except for the payment of strategic or vital goods such as weapons, fuel, or drugs.

The application of these conditions will increase the interest of non-residents in the purchase of domestic government bonds, and in particular, for funds received from planned repayments and the realization of profitability, the bank said in a statement.

Ukraine’s finance ministry is trying to borrow money from the local market to finance the budget deficit, which has widened amid spending needs and reduced tax revenues since Russia’s invasion.

Diamonds mined in Russia

De Beers traces the path from mining in diamond mines to jewelry stores.

De Beers, an international diamond mining and trading company, is stepping up its efforts to officially track the path of its luxury products, from diamond mining to jewelry stores. This is due to the desire of Western customers, who require assurance that their purchases are not from Russia. This was stated by the company’s CEO Bruce Cleaver in an interview with Reuters.

De Beers, a division of British mining company Anglo American, is seeking to adjust its supply chains as it sees growing demand for its jewelry in the United States after US authorities banned the import of diamonds from Russia’s Alrosa, the world’s largest maker. of the world’s precious stones.

The process of controlling the traceability and origin of diamonds will be accelerated as a result of the war between Russia and Ukraine, Cleaver said.

Last week, the company launched its blockchain platform for potentially registering and tracking rough diamonds every time they change owners, from the time they are sold to resellers to the retail stage.

The platform aims to verify the authenticity and responsible supply by ensuring that diamonds are not from conflict zones where they could be used to finance violence.

The company’s sales totaled $ 4.82 billion in 2021, half of which came from the United States, surpassing $ 4.2 billion in sales of Russia’s Alrosa, mostly in North America and Asia.

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