The moratorium on the sale of farmland will be in effect for another 12 months / Photo from zn.ua
Ukrainian President Petro Poroshenko signed a law on amendments to Section X "Transitional Provisions" of the Land Code of Ukraine concerning the extension of the ban on the sale of agricultural land, which was adopted on November 10, the presidential press service reported.
The law extends for one year the moratorium on sale or disposal by other means of agricultural land, which will allow more time to regulate at a legislative level the procedure for circulation of the agricultural land and develop the necessary regulations.
"For this end, the law introduces amendments to Paragraphs 14 and 15 of Section X "Transitional Provisions" of the Land Code of Ukraine. The final provisions of the mentioned law should be developed by the Cabinet of Ministers by March 1, 2016, with a draft bill on the circulation of the agricultural land to be submitted to the Verkhovna Rada," the report reads.
"The extension of the moratorium will ease social tensions driven by political speculations regarding this topic, and will allow time to develop a clear legal mechanism for the introduction of a transparent agricultural land market," according to the report.
The implementation of the law falls within the competence of the Agrarian Policy Ministry, the Ministry of Regional Development, Construction, Housing and Utility Services, the State Service of Ukraine for Geodesy, Cartography and Cadastre, according to the press service.