Conditions for Ukrainian jewelers to buy investment metals in place - NBU

MOSCOW. April 16 (Interfax) - The National Bank of Ukraine (NBU) says that all conditions are in place for buying investment metals from banks to manufacture jewelry, NBU Deputy Governor Yury Gelety told Ukrainian media, adding that banks' clients made cashless purchases of investment metals in an amount equivalent to $35 million in 2025 and in an amount equivalent to $21.5 million in January-February 2026.

Back in 2024, the NBU allowed jewelry manufactures that began operating before the crisis to buy investment metals without restrictions, Gelety said. In August 2025, in response to a proposal from the industry, it also permitted jewelry sale businesses to buy investment metals from Ukrainian banks.

The NBU regulates only imports of investment metals such as gold in bars and powders of 995 purity and higher and silver of 999 purity and higher, Gelety said. Ukraine's foreign currency legislation, which was also in effect before the crisis, defines these categories of metals as foreign exchange assets, and jewelers in Ukrainian territory are permitted to buy them only from banks. Banks themselves can purchase investment metals in the international market without restrictions.

The NBU regularly publishes data on the volume of imports, purchases and sales of investment metals on its official website, he said. Specifically, banks imported investment metals in an amount equivalent to $40.4 million in 2025, ad $21.3 million in the first two months of 2026.

Imports of precious metals that are not investment metals are regulated by the government, including the Finance Ministry, Gelety said. The NBU views purchases by businesses of these categories of precious metals from nonresidents as purchases of goods payments on which are currently permitted by regulatory acts of the NBU.

Imports of precious metals that are not investment metals into Ukraine must comply with customs laws, including payments of the respective mandatory duties and taxes, Gelety said, adding that it is up to the Finance Ministry to give clarification regarding imports of this category of precious metals.