A 2024 retrospective: Key client insights on Ukraine

January 10, 2025

As global challenges continue to test the strength of the modern world and regulatory landscapes shift rapidly, staying informed about emerging trends is essential for both legal professionals and business leaders.

Amid these dynamics, Ukraine has demonstrated extraordinary resilience in the face of significant challenges. Despite the adversity, Ukraine has made impressive strides in rebuilding its infrastructure, strengthening its legal and regulatory frameworks and adapting its business environment.

The country's commitment to reform has led to a thriving tech sector, growing opportunities in renewable energy and an increasingly attractive environment for foreign investment. With the support of international partnerships and a forward-looking approach, Ukraine has positioned itself as a strong and reliable business partner in the region.

Throughout 2024, Dentons has contributed a number of insightful publications, covering key legal developments relevant to organizations in Ukraine. As we head into a new year, we highlight the top insights of 2024 that captured your attention and continue to guide businesses through Ukraine's ongoing transformation.

1. Knowledge hub for Ukraine's transformation and rebuild

In 2024, Dentons announced the appointment of a Global Task Force to lead the Firm's efforts to help clients navigate Ukraine's transformation and rebuild. With this in mind, we have created a knowledge hub where you can find news regarding the latest legal developments in relation to Ukraine's transformation and reconstruction as well as our Invest in Ukraine: Insights from market participants video series.

2. Ukraine: Key energy sector developments 2024

Missile and drone attacks in the spring of 2024 led to extensive damage or destruction of up to 9 GW of coal-fired and large hydropower plants, which served as Ukraine's primary balancing facilities. To address the urgent generation shortage, particularly of balancing facilities, the Ukrainian government has implemented several pivotal measures, including the National Renewable Energy Action Plan 2030, pilot auctions for renewable projects as well as biomethane export legislation, among others.

3. Understanding the European Union's Ukraine Facility

The European Union's Ukraine Facility is a significant support mechanism designed to aid Ukraine in its recovery, reconstruction and modernization efforts from 2024 to 2027. This initiative underscores the EU's commitment to supporting Ukraine amid the ongoing war and on its path towards EU membership. Discover more about support to the country in our series of insights devoted to commitments and aid from Sweden, Finland, Denmark, and Norway, Japan, South Korea, India, Germany, Italy, France, and the US.

4. Latest developments and trends in Ukraine's defense sector

Ukraine's defense sector has undergone a significant transformation in response to the ongoing war with Russia. The sector has seen a surge in innovation and production, driven by the urgent need to equip Ukraine's military with advanced technologies. Here we explore the latest developments, successes and opportunities for investors in Ukraine's defense sector, with a focus on military technology.

5. Industrial parks in Ukraine: A short overview

Industrial parks in Ukraine offer a strategic advantage for foreign investors due to their prime locations, modern infrastructure and favorable investment conditions. Ukraine's ongoing reforms, competitive labor costs and various government incentives make industrial parks an attractive option for businesses seeking growth in a dynamic and emerging market. Also, since the enactment of martial law, Ukraine has introduced several changes to improve its regulation of construction issues. Learn more about how Ukraine adapts construction legislation to address the challenges of war.

6. Key insights from the Berlin Ukraine Recovery Conference

The Ukraine Recovery Conference (URC) 2024, held in Berlin on June 11-12, marked a significant step forward in the international community's support for Ukraine amid the ongoing war with Russia. The event was aimed at consolidating sustainable international support for Ukraine's recovery, reconstruction, reform and modernization efforts. This is a brief summary of key announcements and agreements to aid Ukraine's recovery based on publicly available information as well as insights from our lawyers who participated in the event. Italy will host the Ukraine Recovery Conference in 2025, so stay tuned for future updates from our team.

7. Ukraine's critical minerals: A strategic asset for global supply chains

The strategic importance of Ukraine's critical minerals cannot be overstated. Ukraine is home to a vast array of critical minerals with an estimated value in excess of US$26 trillion, making it a significant player in the global supply chain. Key resources include titanium, lithium, beryllium, manganese, gallium, uranium, zirconium, graphite, apatite, fluorite and nickel. Notably, Ukraine holds the largest titanium reserves in Europe, accounting for 7 percent of the world's reserves, as well as almost 500,000 tons of lithium, a valuable strategic element that can contribute to meeting the global demand for batteries.

8. eSignatures in focus: Navigating electronic identification and trust services in Ukraine

In recent years, Ukraine has experienced a significant shift towards digitalization, with electronic identification (eID) means and trust services being a pivotal element of this revolutionary transformation. As Ukraine endeavors to embrace technology-driven solutions, eID means and trust services-allowing for electronic signatures (eSignatures) among other services-have emerged as readily accessible and efficient alternatives to traditional handwriting methods, thereby streamlining processes, minimizing reliance on paper-based documentation and eliminating the need for the physical presence of signatories in one place. This guide provides a concise overview of eID means and trust services in Ukraine, with a focus on eSignatures as instruments enabled by eID means and their practical application.

9. Developments in war risk insurance products for investments in Ukraine

War-risk insurance has emerged as a potential tool to attract and protect foreign investments in Ukraine. This article explores recent developments in war-risk insurance products for investments in Ukraine, highlighting key initiatives and the draft law "On the system of war-risk insurance" currently under consideration by the government.

10. Resilience and innovation: How Ukraine's agricultural sector is improving logistics and optimizing operations

For millennia, Ukraine's fertile lands have been a cradle of agriculture. Today, Ukraine boasts nearly a third of the world's most fertile black soil and remains a global breadbasket. Yet, since the full-scale Russian invasion, and numerous challenges, the sector has demonstrated remarkable resilience, with stakeholders focusing on improving logistics, modernizing infrastructure and optimizing operations. This article explores key trends and opportunities in the Ukrainian agricultural sector, which will help to understand the diverse potential for investments and future development.

At Dentons, we understand the value of having access to relevant and up-to-date knowledge. As Ukraine's trusted global law firm, we are uniquely positioned to connect you with legal insights from around the world, especially in the markets that matter most to you. Looking ahead to 2025, we remain dedicated to delivering valuable insights on the key legal developments shaping the market, helping you grow, protect, and manage your business in Ukraine and beyond. Subscribe for the latest news and updates that are most important for your business.