Legal regulations of biofuel production in Ukraine

Abstract

: The global biofuel industry is characterized by a wide range of legislative and regulatory measures for the development of bioenergy. In order to stimulate the production of biofuels, a set of measures has been developed, including legislative regulation, indicative planning of production volumes, preferential taxation and budget support. Ukraine is among the top ten largest consuming countries of energy resources. Weak and inconsistent state policy in the sphere of biofuels as well as inconsistent legislative provisions regulating activities in the field of production, circulation and use of biofuels, impede the effective development of further functioning of the regulatory framework with the legislation of the European Union on the rational use of fuel and energy resources, the limitations of which increase due to inconsistencies between centralized and regional distribution. Therefore, further processes of effective economic development of Ukraine will largely depend on solving the problem of the sustainable provision of available renewable energy resources. Future development of the biofuels market in Ukraine will strongly depend on the institutional and legal conditions in the field of production, circulation and use of biofuels.