Ukrainian democracy depends greatly on the energy security of the country, U.S. Vice President Joe Biden has said, according to Interfax-Ukraine.

Biden said this in his address to Ukrainian businessmen and statesmen in Ukraina House in Kyiv on Wednesday.

He stressed that Ukraine has great energy resources, however they are used inefficiently. The U.S. vice president suggested that the country's energy sector should be reformed. Ukraine uses three times as much energy as an average EU country, including its neighbor Poland.

Besides, Ukraine still hasn't switched to forming market prices for electricity, Biden said adding that it was time to do this.

He also said that the United States and Ukraine have agreed to hold a meeting of a working group on energy security by the end of this year.


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