Ukraine parliament approves sweeping gas sector reform law

KIEV (Reuters) - Ukraine's parliament on Thursday backed a law aimed at breaking the stranglehold of powerful groups over the lucrative gas distribution sector and establishing fairer market conditions.

"This law will abolish the monopoly of the oligarchs and allow gas price reductions," said Oleh Lyashko, leader of Ukrainian Radical Party, which has repeatedly called for measures to curb the influence of big business.