Ukrainian President Petro Poroshenko has signed a bill on prolongation of a moratorium to sell farmland in Ukraine until 2018 passed by Ukraine’s Verkhovna Rada on October 6.
The press service of the head of state reported that the law amending Section X of the transition clauses of the Land Code of Ukraine regarding a ban to sell farmland extended 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.
On October 7, Chairman of the Ukrainian parliament Andriy Parubiy said that the decision to extend the moratorium to sell farmland was a compromise, as legislation for farmland turnover had not been approved in Ukraine. (Interfax/Business World Magazine)