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Regional report: Energy and natural resources trends in the CEE, Central and Southeast Asia for the year 2026
We are excited to release the second edition of the Report | Energy and Natural Resources Trends in the CEE, Central and Southeast Asia for the year 2026. This report provides an overview of the latest and upcoming developments in the energy and natural resources sector, with a particular focus on opportunities and advances in renewable energy, battery energy storage systems, hydrogen, nuclear energy, and oil and gas. It is tailored to the specific energy landscape of Austria, Bulgaria, Croatia, the Czech Republic, Hungary, Kazakhstan, Romania, Serbia, Slovakia, Turkey, Ukraine, Uzbekistan, Cambodia, and Vietnam. Through this report, we aim to provide both new and existing investors in our markets with an overview
Kinstellar announces new Partner and Counsel promotions
Kinstellar is pleased to announce the promotions to Partner of Pavel Kornilov (Almaty), Yerlan Akhmetov (Almaty), Olga Šipka (Belgrade), Dominika Bajzáthová (Bratislava), Theodor Artenie (Bucharest), Maksym Tesliar (Kyiv), Mladen Minev (Sofia), and Svilen Issaev (Sofia), and to Counsel of Katarina Živković (Belgrade), Lukáš Mrázik (Bratislava), Lidia Zarnescu (Bucharest), Razvan Constantinescu (Bucharest), Dániel Péter (Budapest), Adam Němec (Prague), and Radim Kotrba (Prague). Partners Pavel Kornilov, Astana/Almaty Pavel is recognised as a top-tier lawyer with extensive experience in capital markets, debt finance, banking, and M&A matters. He advises clients on equity and debt capital markets
“Gun-jumping” in Ukraine: 2022-2025 enforcement dynamics
Over the past four years, the Antimonopoly Committee of Ukraine ("AMC") has significantly intensified enforcement against so-called "gun-jumping" violations, in which mergers or acquisitions occur prior to obtaining AMC approval. This trend is reflected not only in the growing number of cases, but also in the evolution of the AMC’s approach to investigations, fine calculation and substantive assessment. To avoid penalties, companies must ensure they secure AMC clearance before closing transactions, as even war-related challenges do not exempt firms from compliance requirements. Our Ukraine Competition & State Aid team has conducted an in-depth analysis of all gun-jumping cases from January 2022 to December
A temporary reservation mechanism for defence sector employees with military registration violations has been launched in Diia
On 13 March 2026, the Diia state portal technically implemented a mechanism for the temporary reservation of employees of defence sector companies with military registration violations. The relevant amendments entered into force on 4 December 2025 pursuant to the Law of Ukraine dated 9 October 2025 No. 4630-IX “On Amendments to Certain Laws of Ukraine Regarding the Organisation of Labour Relations under Martial Law” (the “Law”). The changes apply to defence sector companies, in particular companies that are: recognised as critically important for meeting the needs of the Armed Forces of Ukraine and other military formations; or recognised as critically important for the functioning of the economy
Understanding the legal landscape of private credits
Private credit has become one of the fastest‑growing segments of modern finance, offering flexible alternatives to traditional lending. Our cross‑border overview brings together the key legal questions that arise across 12 jurisdictions, helping investors, lenders, and borrowers navigate an increasingly complex regulatory environment. This guide highlights the most important considerations—including licensing, security, financial assistance, tax aspects, and insolvency implications—to support more informed decision‑making in private credit transactions throughout Emerging Europe and Central Asia. Partner Tomáš Melišek drove the preparation of the material with the support of local teams of legal experts
Digital Product Passports: The regulatory shift fashion brands need to plan for
Fashion and luxury brands selling into the EU should prepare for a regulatory shift that will directly affect how products are documented, traced and placed on the market. Regulatory work is now intensifying on implementing measures, including the rollout of Digital Product Passports (DPPs). DPPs are becoming a central instrument in the EU’s strategy to advance circularity, transparency and sustainability. For the fashion industry, DPPs represent not only a compliance obligation, but a shift in how product data and supply chains are managed. DPPs as a new regulatory standard A Digital Product Passport will function as a product’s digital identity, containing information on origin, material composition
Ukraine takes fresh step toward FDI screening with launch of Interagency FDI Commission
Ukraine’s government has adopted a key resolution to establish an Interagency Commission for screening foreign investments (the "FDI Commission"). At the same time, the country’s parliament (Verkhovna Rada) is presently assessing competing draft laws on foreign direct investment ("FDI") screening. The FDI Commission is set to serve as an interim coordination mechanism to assess national security risks related to foreign investments. The body will act as an umbrella for the relevant authorities to streamline reviews and reduce frag mented decision-making in sensitive cases. The FDI Commission will reportedly be co-chaired by the Minister of the Economy and the First Deputy Secretary of the National Security and Defense
Ukraine simplifies import/export of military and dual-use goods
The Ukrainian government has simplified the procedure for obtaining permits and conclusions for international transfers of military and dual-use goods under international treaties with Ukraine. The relevant changes were introduced by Resolution of the Cabinet of Ministers of Ukraine No. 6, dated 07 January 2026, and come into effect immediately from 8 January 2026. When does the simplified procedure apply? The simplified procedure applies where an international transfer of goods is carried out on the basis of an international treaty with Ukraine that expressly provides for such a transfer, and specifies: the goods to be transferred; the exporters, importers, intermediaries and end
Navigating the MiCA landscape: Considerations for forum shopping in CEE and beyond
As the European financial market undergoes a major digital transformation, the implementation of the Markets in Crypto-Assets Regulation (MiCA) stands out as a defining milestone. By introducing a harmonised legal framework, the EU is transforming from a frag mented regulatory landscape into the world’s largest single market for regulated digital assets. For crypto-asset service providers (CASPs) and institutional investors, this shift offers a “single passport”, legitimising the industry and enabling growth. Yet the practical application of these rules varies across Member States, influenced by differences in administrative capacity, supervisory culture, and national legal traditions. Choosing a “home” jurisdiction
Kinstellar welcomes leading Dispute Resolution lawyer Oleksandr Frolov as a Partner in Ukraine
Kinstellar is delighted to announce that Oleksandr Frolov, a highly regarded Dispute Resolution lawyer, has joined our Kyiv office as a Partner. His addition strengthens our growing capabilities in Ukraine and reflects our long-term commitment to supporting clients on their most complex matters in the country. Oleksandr brings over 15 years of experience advising multinational companies, governments, state-owned enterprises, management and supervisory boards, and various public institutions. He has acted in high-value international arbitrations, as well as cross-border and domestic litigations before forums across Europe, the Middle East, and the United States. His work spans a broad range of sectors, including
Defence City legal regime: full implementation phase begins
The Defence City regime entered its full implementation phase, following the adoption of the relevant regulations by the Cabinet of Ministers of Ukraine. This alert provides an overview of the adopted regulations, with a focus on the key procedures and implications for defence industry companies. Click on one of the images below or use the following links to read our overview in English or in Ukrainian. Download in English: Download in Ukrainian:
Further easing of currency restrictions in Ukraine: Focus on new currency liberalisation instruments
On 13 January 2026, the National Bank of Ukraine (NBU) announced a new package of updates to the existing currency (FX) restrictions that were introduced in February 2022 in response to Russia’s full-scale invasion. The regulatory changes are aimed at further developing the incentive-based FX liberalisation framework gradually implemented by the NBU since 2025, as well as better supporting Ukrainian businesses operating under martial law. The key amendments entered into force on 14 January 2026 and include: 1. Dividend payments, repayment of "old" loans and other transactions within the "loan limit" The cornerstone of the new package is the introduction of a so-called “loan limit”, a special