The Ukrainian Bar Association (UBA), in collaboration with Sayenko Kharenko, today announced that the Ministry of Economic Development and Trade of Ukraine terminated special sanctions that were imposed on the International Bar Association (IBA) almost ten years ago.
Beginning from 2007, the IBA was listed in the electronic database of special sanctions in the form of limitation of foreign economic activities due to a technical application of currency control laws to a payment by one of the IBA's customers in Ukraine. This sanction made it impossible for any IBA member from Ukraine to make a wire transfer to the IBA, for example, to pay the membership fees or the conference registration fees.
The termination of special sanctions was accomplished within a short timeframe by Sayenko Kharenko's international trade team on a pro bono basis, with support from the Ukrainian Bar Association.
Partner Vladimir Sayenko, International Relations Officer of the UBA, comments: "We are pleased to see that the Ministry of Economic Development and Trade of Ukraine reacted very quickly to exclude the IBA from the sanctions list as soon as the issue was raised. This is a perfect example of practical business friendly approach where the Ukrainian Government demonstrated that substance should prevail over form. From now on the IBA members will have no obstacles in paying the annual fees or conference registration fees. We encourage all UBA members and other Ukrainian lawyers to join the IBA and participate in its activities!"
The International Bar Association, established in 1947, is the world's leading organization of international legal practitioners, bar associations and law societies. The IBA influences the development of international law reform and shapes the future of the legal profession throughout the world. It has a membership of more than 80,000 individual lawyers and more than 190 bar associations and law societies spanning over 160 countries. It has considerable expertise in providing assistance to the global legal community.
The Ukrainian Bar Association has been an IBA member since 2006 and cooperates with the IBA on those activities that are relevant for Ukrainian lawyers. For more information and to read the official press release, please visit the UBA's web site.
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