The Ukrainian Railways joint-stock company (Ukrzaliznytsia) has amended its contract "On the Organization of Transportation of Transit Cargo by Rail in Ukraine" to remove the provision that requires customers to pay a deposit of USD 300,000.

This was reported by the CFTS portal, citing the Interfax Ukraine news agency.

The decision to cancel the deposit is intended to make the Ukrainian transport system competitive and attractive in the international market of transport services.

According to Ukrzaliznytsia, this decision will help create conditions for providing access to the market of transportation of transit goods.

Previously, carriers were required to pay a deposit of USD 300,000 or the hryvnia equivalent at the National Bank of Ukraine’s official exchange rate into an account at the Unified Rail Transport Settlement Center, which is a division of Ukrzaliznytsia.