KYIV, July 1 - A draft law which President Volodymyr Zelenskiy says will help curb the influence of oligarchs who have dominated Ukraine for decades was approved in its first reading in parliament on Thursday, Reuters reported.

Another bill approved in the first reading seeks to increase taxes and rent payments on companies that will also affect oligarchs.

“Ukraine's Parliament approved the first readings of two bills to rein in the oligarchs. One law defines an oligarch & restricts their political activities. The other raises taxes and rents on businesses,” Anders Aslund, senior fellow at the Washington-based Atlantic Council, said.