Diario Oficial de la Unión Europea del 20/4/2022 - Comunicaciones e Informaciones
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Source: Diario Oficial de la Unión Europea - Comunicaciones e Informaciones
EN
20.4.2022
Official Journal of the European Union
C 166/1
I
Resolutions, recommendations and opinions
RECOMMENDATIONS
COUNCIL
COUNCIL RECOMMENDATION
of 19 April 2022
on the conversion of hryvnia banknotes into the currency of host Member States for the benefit of displaced persons from Ukraine 2022/C 166/01
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 292, first and second sentence, in conjunction with Article 782, point c, thereof, Having regard to the proposal from the European Commission, Whereas:
1
Since the Russian invasion of Ukraine more than 4 million people have arrived in the European Union in the space of just a few weeks. Both the scale and the speed of arrivals are unprecedented.
2
Council Implementing Decision EU 2022/382 1 established the existence of a mass influx of displaced persons from Ukraine as a consequence of an armed conflict and introduced temporary protection for displaced persons from Ukraine.
3
Displaced persons enjoying temporary protection or adequate protection under national law, in accordance with Council Directive 2001/55/EC 2 and Implementing Decision EU 2022/382, have urgent liquidity needs to cover their essential expenses. Many of them have arrived with hryvnia banknotes and face extreme difficulties in converting those banknotes into the currency of the host Member State.
4
The National Bank of Ukraine has suspended the exchange of hryvnia banknotes into foreign cash in order to protect Ukraines limited foreign exchange reserves.
5
Credit institutions in the Member States are not willing to carry out the currency exchange operations due to the limited convertibility of hryvnia banknotes and exposure to exchange rate risk.
6
Some Member States are considering putting in place national schemes that support the conversion of a limited amount of hryvnias per displaced person at a fixed rate.
1 Council Implementing Decision EU 2022/382 of 4 March 2022 establishing the existence of a mass influx of displaced persons from Ukraine within the meaning of Article 5 of Directive 2001/55/EC, and having the effect of introducing temporary protection OJ L 71, 4.3.2022, p. 1.
2 Council Directive 2001/55/EC of 20 July 2001 on minimum standards for giving temporary protection in the event of a mass influx of displaced persons and on measures promoting a balance of efforts between Member States in receiving such persons and bearing the consequences thereof OJ L 212, 7.8.2001, p. 12.
