Putin says sides agree to ceasefire after marathon Ukraine talks

Russian President Vladimir Putin said Thursday that the parties taking part in marathon peace talks in Minsk, Belarus, have agreed to a ceasefire starting Sunday in conflict-torn eastern Ukraine.

“I call on both sides to end the bloodshed as soon as possible” and come to a real political solution to the conflict, he told reporters in Minsk.

He added that all sides have agreed to pull back heavy weapons.

Germany’s Foreign Office confirmed on Twitter that an agreement had been reached in the four-way talks between Ukraine, Russia, France and Germany.

“After 17 hours the negotiations in Minsk are finished: Ceasefire on 15.02 at 0:00 and the withdrawal of heavy weapons. That is a reason for hope,” German government spokesman Steffen Seibert tweeted.

Full details of the agreement have yet to be released.

If the ceasefire holds — which is far from certain — it could bring to an end a 10-month conflict that has claimed more than 5,000 lives, many of them civilians, and severely strained East-West relations.

A previous ceasefire deal agreed to in September, also in Minsk, broke down amid continued fighting.

Putin has now left the ornate palace in Minsk where the talks took place.

All-night session

News of the agreement came after conflicting reports earlier Thursday from the overnight session.

While Russian state media reported that the talks had ended and leaders were expected to sign a 10-point agreement, Ukraine’s President begged to differ.

“There is no good news yet,” Petro Poroshenko said, according to a government Twitter account.

The deal was expected to cover the withdrawal of heavy weapons, the creation of a demilitarized zone and the future status of the Donbass area in eastern Ukraine.

Representatives of the three other nations involved have not commented on the status of the talks.

Earlier, RIA Novosti reported that the negotiators have “agreed by 80%,” following an all-night session in Minsk, Belarus. What’s uncertain is what’s in the remaining 20%.

“It gives the impression at the moment that they have not been able to reach a full deal, that they are prepared or preparing to park this deal whereby a significant percentage of an agreement has been made,” CNN’s Nic Robertson reported from Minsk.

The stakes are high in these talks.

Not only has war raged for months in eastern Ukraine, where pro-Russian rebels angry about political upheaval in Kiev have declared their independence, but it’s getting worse, threatening not only the lives of more civilians, but the stability of the region.

The previous deal signed last September called for a drawback of heavy weapons, greater autonomy in the eastern Luhansk and Donetsk regions and a buffer zone along the Russia-Ukraine border.

The new plan envisions a much broader demilitarized zone to run along the current front lines.

Russia has steadfastly denied accusations that it is sending forces and weapons into Ukraine. But top Western and Ukrainian leaders have said there isn’t any doubt that Russia is behind surging violence and separatists’ efforts to take over territory in eastern Ukraine.

IMF: New $17.5 billion program for Ukraine

IMF director Christine Lagarde on Thursday announced a new IMF program to support economic reform in Ukraine that’s worth $17.5 billion over four years.

“Over the past year, despite the challenging environment, the Ukrainian authorities have clearly shown their commitment to ambitious reform on several key fronts,” Lagarde said in a statement.

These include strong fiscal discipline, efforts to reduce the country’s heavily subsidized household gas prices and moves to strengthen anti-corruption measures.

“This new program offers an important opportunity for Ukraine to move its economy forward at a critical moment in the country’s history,” Lagarde said. But it is also “subject to high risks,” she said, because of the geopolitical developments in the east.

The crisis in Ukraine, which stemmed from a trade agreement, has forced more than 1.5 million from their homes, according to the United Nations.

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