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Ukraine stops farmland sales until 2018

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Staff Writer | Monday October 31, 2016 10:32AM ET
Ukraine farmland
No sale   Extending the moratorium

Ukrainian President Petro Poroshenko has signed into law a bill on prolongation of a moratorium to sell farmland in Ukraine until 2018 passed by Ukraine's Verkhovna Rada.


The press service of the head of state reported on Friday that the law amending Section X of the transition clauses of the Land Code of Ukraine regarding a ban to sell farmland extends the moratorium to sell farmland for one year.

This will allow regulating the procedure for farmland turnover over the period.

"The implementation of the law would help to provide for the creation of the proper legislation and set the clear legal mechanism for the farmland market to function," the press service said.

As reported, on October 7 Chairman of the Ukrainian parliament Andriy Parubiy said that the decision to extend the moratorium to sell farmland is a compromise, as legislation for farmland turnover has not been approved in Ukraine.

 

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