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Ukraine greenlights strategic & critical minerals lists to support national security and boost investment
On 14 July 2025, the Cabinet of Ministers of Ukraine (CMU) approved the Lists of Minerals and Components of Strategic and Critical Importance (Resolution No. 845, or the Lists). Resolution No. 845 classifies minerals into two categories: strategic minerals (those crucial for the national security of Ukraine and its economic prosperity), comprising 11 elements (e.g., uranium, titanium and strontium) and critical minerals (those essential for modern technologies), comprising 28 elements (e.g., lithium, rare earth ores and cesium). The above categorisations were developed in accordance with the Updated National Program for the Development of the Mineral Resources Base of Ukraine for the Period up to 2030, adopted in December
Kinstellar, together with Addleshaw Goddard as lead counsel, advises Phoenix Equity Partners Limited on the acquisition of FutureMeds in Bulgaria and Ukraine
Kinstellar, together with Addleshaw Goddard as lead counsel, has advised Phoenix Equity Partners Limited, a leading UK-based private equity investor, in connection with the acquisition by Phoenix of FutureMeds, a fast-growing clinical trial site network operating across Europe, including subsidiaries in Bulgaria and Ukraine. The transaction marks a significant step in Phoenix’s investment in the healthcare and life sciences sector and supports FutureMeds’ ambition to accelerate access to clinical trials across Europe and beyond. FutureMeds is Europe’s first dedicated independent site management organisation (SMO), providing access to state-of-the-art clinical research infrastructure across multiple countries.
Kinstellar supports Ukraine in its reconstruction efforts and launches dedicated Ukraine reconstruction projects website
Kinstellar has launched a firmwide initiative to support Ukraine in its recovery and reconstruction efforts. Our Kyiv Office continues providing full commercial counsel and legal support in Ukraine to international and domestic clients, with particular emphasis on the Infrastructure & Construction, Defence, Energy & Projects, and Mining & Minerals sectors. The Ukrainian government has given top-priority to these areas, and our team closely monitors related opportunities for our clients. We also draw on the combined experience of our 300+ lawyers in 12 jurisdictions in Central and Eastern Europe (CEE), Southeast Europe (SEE), and Central Asia to assist clients in some of the most ambitious reconstruction
Update on the implementation of CS3D and CSRD, and related local legislative developments in Bulgaria, Croatia, the Czech Republic, Hungary, Romania, and Slovakia
Despite the 6 July 2024 transposition deadline for the full implementation of the Corporate Sustainability Reporting Directive (CSRD), several jurisdictions – including the Czech Republic and Romania – remain subject to infringement proceedings initiated by the European Commission in September 2024 for failing to fully communicate their national measures. It remains unclear how this infringement process will proceed, particularly in light of the postponement of the second wave of the reporting obligation, as approved under the so-called “stop-the-clock” directive incorporated into the Omnibus I package. At the same time, and also as a consequence of the “stop-the-clock” directive – which postponed the
ESG legal update: Central and Eastern Europe and Central Asia regions
The end of 2024 and the beginning of 2025 marked a period of uncertainty in the ESG regulatory landscape. Across both Kinstellar’s EU and non-EU jurisdictions, stakeholders awaited the Omnibus I package, expected to introduce significant changes to ESG compliance and reporting frameworks. The release of Omnibus I in late February 2025, along with the implementation of key directives – particularly the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) – has brought fresh uncertainties. Regulators are now reassessing their legislative roadmaps, with potential delays to national transpositions and even postponements of already implemented ESG regulations.
Repeal of the Commercial Code of Ukraine: Analysis of Law No. 6013 and its implications for the country’s legal system
The adoption by the Verkhovna Rada of Law of Ukraine No. 6013 “On the Peculiarities of the Regulation of Entrepreneurial Activity by Certain Types of Legal Entities and Their Associations in the Transition Period” (the “Law”) represents a fundamental reform of private law in Ukraine. The Law not only repeals the Commercial Code of Ukraine (the “Commercial Code”), which had been in force since 2004, but also initiates a fundamental restructuring of the system of the legal regulation of economic relations in the country. Any analysis of the key aspects of the reform needs to take into account both its legal implications and practical challenges for business entities, especially in the context of harmonization
Status of CSRD transposition in Central and Eastern Europe and its legal implications
Kinstellar hosted a special webinar event on 11 February 2025, focusing on the latest status of transposition of the Corporate Sustainability Reporting Directive (CSRD) in Central and Eastern Europe as well as some other legal and regulatory updates relevant to ESG in EU neighbouring countries. The webinar provided valuable insights into the crucial legal factors in preparing for CSRD reporting and a comprehensive understanding of key ESG rules being rolled out in the CEE and beyond. Topics covered: Status of CSRD transposition in Bulgaria, Croatia, Czech Republic, Hungary, Romania and Slovakia Legal considerations of CSRD reporting Other ESG regulatory updates in Serbia, Turkey and
ESG legal update: Central & Eastern Europe and Central Asia regions
The past year has seen a flurry of regulatory developments related to Environmental, Social and Governance (ESG), particularly in the alignment of climate, environmental and reporting rules across the Central and Eastern Europe and Central Asia regions. Although the deadline for transposition of the Corporate Sustainability Reporting Directive (EU) 2022/2464 (CSRD) passed in July 2024, not all EU member states have managed to fully implement the directive. The European Commission has initiated infringement proceedings against 17 member states, including the Czech Republic and Romania, and it remains to be seen whether it will take further steps in the infringement procedure. Attention is turning to the Corporate
Ukraine REACH to come into effect
On 26 January 2025, the Technical Regulation on the Safety of Chemical Products, approved by the Cabinet of Ministers of Ukraine in July 2024, will come into force. The Regulation introduces rules for the registration of chemicals and was developed based on the EU Regulation on the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH). This forms part of legislative changes aimed at protecting human health and the environment. 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:
Update on the ESG reporting obligations in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia
The Corporate Sustainability Reporting Directive (EU) 2022/2464 (the “CSRD”) required EU member states to complete its transposition by 6 July 2024. However, uneven implementation led the EU Commission to initiate infringement proceedings against 17 member states, including the Czech Republic and Romania, on 26 September 2024, citing their failure to fully communicate the necessary transposition measures. These states now face a two-month deadline to finalise the process and respond to the formal notice. While the CSRD’s transposition is nearing completion, attention is turning to the Corporate Sustainability Due Diligence Directive (EU) 2024/1760 (the “CSDDD”), an equally significant piece of legislation.
Kinstellar advises Orbico on strategic acquisition in Ukraine
Kinstellar has acted as Ukrainian legal counsel to Orbico Group on the acquisition of a controlling stake in SAV 92, a leading Ukrainian distributor of branded international and Ukrainian food and non-food products. This multi-stage transaction marks a significant step in Orbico's strategic expansion into the Ukrainian market. Orbico Group is a leading distributor of a large number of globally known brands ranging from beauty care to motor oil products. Orbico cooperates with more than 180 suppliers, manages more than 500 global and local brands, and supplies to more than 59,000 customers. Kinstellar’s advice included due diligence, securing unconditional merger control clearances for a gradual transfer of control
Kinstellar advises France’s NJJ Capital on the landmark roll-up of businesses in the telecommunications sector in Ukraine
Kinstellar is proud to have acted as Ukrainian legal counsel to NJJ Capital, the investment company of France’s leading technology entrepreneur Xavier Niel, on the acquisition and merger of Datagroup-Volia, one of Ukraine’s largest fixed telecom and pay-TV providers, and Lifecell, Ukraine’s third-largest mobile operator. This landmark transaction is a significant consolidation of and investment in the Ukrainian telecoms market, that will bring many benefits to telecoms consumers, especially during wartime circumstances. Kinstellar’s legal team provided comprehensive Ukrainian law advice to NJJ Capital throughout the transaction. Lead lawyer and office managing partner Olena Kuchynska, noted: