The law cutting the quorum of shareholders' meetings from 60% plus one share to 50% plus one share will take effect on May 26, which will allow the Energy and Coal Industry Ministry to be more active in fighting for control over the largest oil extracting company in the country – Ukrnafta, where the state, through national joint-stock company Naftogaz Ukrainy, owns a 50% plus one share, Energy and Coal Industry Minister Volodymyr Demchyshyn has said.

"The law for Ukrnafta will take effect on May 26. More active and clear actions will be conducted after May 26," he said at a press conference in Kyiv on Wednesday.

"We're ready to observe all the procedures for gathering a meeting of the supervisory board to hold a generating meeting, but in the current legislative field, until the law takes effect, the effect of these measures will be very restricted," he said.

Demchyshyn said that actions before May 26 would be challenged in courts.

"We'll do this when the law takes effect," he said.

Commenting on the situation in Ukrtransnafta, he said that the main goal is gaining operation control. He said that the acting head of Ukrtransnafta Yuriy Miroshnyk, appointed by the supervisory board on March 19, is a temporary figure, and that a selection of a new company head at an open tender has been started.