Cabinet cuts royalty for gas producers to ensure energy independence in 10 years - Yatseniuk

The Cabinet of Ministers of Ukraine cut the royalty for Ukrainian gas producers to allow Ukraine to become fully independent in 10 years, Ukrainian Prime Minister Arseniy Yatseniuk has said.

"We’ve radically changed the royalty policy: we halved the tax rate for companies that honestly and transparently produce gas and increase our energy independence," he said on the "Ten minutes with the prime minister" TV program on Sunday night.

Yatseniuk said that the step is aimed at providing full energy independence of Ukraine during 10 years.