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Ceasefire Agreement Reached after Four-Way Marathon Talks 

Russian President Vladimir Putin has made the announcement after marathon talks in the Belarussian capital, Minsk.

"First, we agreed on the end of firing from midnight on the 15th of February. Second, the position that I consider to be extremely important, is the removal of heavy weapons from the line of confrontation for the Ukrainian forces, and from the line, from today's confrontation line for the Ukrainian forces, and from the line named on September 19 last year in the Minsk agreements for the rebels of Donbass."

Under the agreement, Kiev will exchange prisoners with the rebels.

Ukrainian authorities have also agreed to bring in constitutional reforms to give more autonomy to rebel-held regions by the end of this year.

If this is accomplished, Ukrainian authorities will be allowed to control the country's border with Russia.

Rebel forces have been maintaining control of areas along the Russian border since the fighting broke out last year.

This has led to allegations the Russian side has been inserting heavy weapons and troops into the fight.

Moscow has consistently denied this.

Despite the new consensus reached in Minsk, there are still divisions.

Ukrainian President Petro Poroshenko.

"Despite firm insistence from Russia we didn't agree any status of autonomy for eastern Ukraine. We'll do this through constitutional reforms of decentralization that will concern the whole country. We didn't agree on federalization as well."

Another sticking point not dealt with in the agreement is the status of the transportation hub of Debaltseve, where intense fighting continues.

The latest round of talks in Minsk was brokered by German Chancellor Angela Merkel and French President Francois Hollande.

Calling the peace deal hopeful, both are pleading with the rival parties to implement the accord.

Despite the deal being reached, officials with the European Union have still decided to add 19 new names to its sanction list starting from Monday.

And at the same time, the United States, while welcoming the new agreement, is still not ruling out fresh sanctions on Russia.

US State Department spokesperson Jen Psaki.

"We maintain the ability and the resources in place should the situation on the ground warrant it."

The Chinese government has issued its response to the new accord, saying a political resolution is "the only way out" of the conflict in Ukraine.

For CRI, this is Qizhi.