Ukraine's competition authority – the Antimonopolnyi Komitet Ukrainy (Antimonopoly Committee of Ukraine, or AMCU) – has materially intensified its enforcement posture in 2025. Fines are rising, dawn-raid activity has resumed, and merger notification reviews are taking longer. International companies operating in or entering the Ukrainian market face real exposure if compliance programmes have not kept pace with these developments.
Ukraine's competition legislation empowers the AMCU to impose penalties reaching up to ten per cent of a company's annual worldwide turnover for cartel conduct and market dominance abuses. Businesses meeting the relevant revenue and market-share thresholds must notify the AMCU before completing qualifying transactions. Companies already under investigation have a narrowing window to engage the leniency programme before a formal decision is issued.
This alert sets out what has changed, which business categories are most exposed, and the immediate steps international companies should take now.
What the AMCU has changed and when it takes effect
The AMCU published updated enforcement guidelines in early 2025. Those guidelines clarify the methodology for calculating penalties and confirm that the authority will apply turnover-based fines consistently across all sectors. The guidelines took effect upon publication and apply to all ongoing and new investigations.
Three enforcement shifts stand out. First, the AMCU has broadened its definition of market dominance to capture companies holding a strong position in narrowly defined product or geographic sub-markets – not only those with an obvious sector-wide share. Second, the authority has signalled that cartel conduct involving pricing algorithms or digital communication channels will be treated with the same severity as traditional price-fixing. Third, the AMCU has shortened the internal review period for merger notification (prior approval of concentrations under Ukrainian competition legislation) only in straightforward cases. complex transactions now face an extended second-phase review of up to three months.
These changes build on amendments to Ukraine's competition legislation that entered into force in late 2024. Those amendments aligned Ukrainian merger control thresholds more closely with EU practice and introduced explicit provisions on hub-and-spoke arrangements – a form of indirect cartel coordination previously treated inconsistently by the authority.
The AMCU has also formally reinstated its leniency programme procedures, suspended during the period of active hostilities. The leniency programme is now fully operational. Applicants who disclose cartel conduct before the AMCU opens a formal investigation may qualify for full immunity from penalties.
Which businesses are affected and the threshold criteria
Any company with commercial activity in Ukraine – including import, distribution, and digital service delivery – falls within the AMCU's jurisdiction. The following categories face the highest exposure in the current enforcement cycle.
- Companies with market dominance indicators: A single company holding a significant share of a defined Ukrainian market, or a group of companies whose combined share satisfies the statutory threshold under competition legislation, is presumed dominant. The AMCU can challenge pricing, access, and dealing terms without proof of intent.
- Parties to M&A transactions: Transactions that meet the Ukrainian merger notification thresholds require prior AMCU clearance. Closing without clearance – gun-jumping – attracts automatic fines and potential unwinding orders. For international companies acquiring Ukrainian assets or businesses with Ukrainian revenues, merger notification obligations apply even when the target is small.
- Trade associations and multi-party commercial arrangements: Information-exchange arrangements within trade bodies, joint purchasing groups, or distribution networks are a stated AMCU priority. Participation in these structures without proper legal review carries direct cartel liability.
- Digital platforms and algorithm-based pricing: The AMCU has made clear that algorithmic coordination is not a safe harbour. Platforms setting prices dynamically through shared or similar software are at risk of cartel findings, even without a formal agreement.
The compliance deadline for self-assessment against the updated enforcement guidelines is immediate. The AMCU has stated that it considers companies to have been on notice since the guidelines' publication. Any investigation opened after that date will be assessed against the new penalty methodology without transitional relief.
For a detailed analysis of how these enforcement developments interact with corporate disputes and shareholder rights in Ukraine, see our coverage of corporate disputes in Ukraine.
To receive an expert assessment of your company's competition law exposure in Ukraine, contact us at info@ferrazwhitmore.com.
Immediate actions for international companies
The steps below address the five most common gaps identified in international companies operating in Ukraine.
- Audit market-share data now. Map your company's position in each relevant Ukrainian product and geographic market. If your share approaches or exceeds the dominance threshold under Ukraine's competition legislation, document a justification for all pricing and access decisions made in the past twelve months.
- Review pending and recent M&A activity. Confirm whether any transaction completed in the past two years – or currently in progress – met the Ukrainian merger notification thresholds. Failure to notify is a continuing violation. Voluntary disclosure to the AMCU before an investigation opens typically results in a significantly reduced penalty.
- Assess trade association participation. Review the scope of information shared within any Ukrainian industry body or multi-party commercial structure. Commercially sensitive data – pricing intentions, capacity plans, customer allocation – shared among competitors raises immediate cartel risk under current AMCU enforcement priorities.
- Evaluate leniency eligibility. If your company has knowledge of a cartel arrangement involving Ukrainian markets, the leniency programme window is open now. The first applicant to qualify receives full immunity. Later applicants receive partial reductions. Delay reduces the benefit available.
- Update internal compliance training. The AMCU treats the existence of a credible compliance programme as a mitigating factor in penalty calculations. Documented training, written policies, and escalation procedures are evidence of good faith – and reduce personal liability for employees involved in any contested conduct.
International companies with operations in neighbouring CIS markets should also review our alert on competition enforcement trends in Russia for comparative context. For the full scope of competition law advisory services in Ukraine, visit our competition law practice in Ukraine.
About Ferraz & Whitmore
Ferraz & Whitmore is an international law firm based in Lisbon, advising business clients across 46 jurisdictions. Our competition law practice covers cartel defence, market dominance assessments, merger notification filings, and leniency applications across CIS and European markets. Engaging a lawyer in Ukraine with cross-border experience is especially important when enforcement agencies apply turnover-based penalties that reach global revenues. As an international law firm advising on Ukraine matters. We combine Portuguese civil law analytical rigour with English common law dispute-handling experience. a combination that serves clients when AMCU proceedings escalate to administrative courts or international arbitration. The firm's competition team has advised on concentration filings and cartel investigations before the AMCU and analogous authorities across the region, supported by a network of local counsel. To discuss how current Ukrainian enforcement trends affect your business, contact us at info@ferrazwhitmore.com.
Disclaimer: This publication is provided for informational purposes only and does not constitute legal advice. The information herein should not be relied upon as a substitute for professional legal counsel tailored to your specific circumstances. Ferraz & Whitmore assumes no liability for actions taken or not taken based on the contents of this material. For advice regarding your particular situation, please contact info@ferrazwhitmore.com.