(VOVworld) – A new cooperative agreement with Russia will open good prospects for Ukraine, Ukrainian Prime Minister Mykola Azarov said at a cabinet meeting on Wednesday.

Ukrainian President Viktor Yanukovych (left) and Russian President Vladimir Putin signed a number of cooperative agreements (Photo: AFP)

He said the “historic” deal with Russia will help Ukraine avoid bankruptcy and open prospects for Ukraine to stabilize its social situation. The deal will also enable Ukraine to pass a 2014 budget prioritizing social programs, scholarships for students, and increasing salaries for state employees, with the final aim of improving the economy and raising people’s living standards.

Azarov made the statement after Ukraine and Russia signed 14 cooperative deals including an agreement to allow Russia’s Gazprom group to sell gas to Ukraine at a price of 268.5 USD per 1,000 cubic meters. The price currently stands at 406 USD. Meanwhile, Russia will spend 15 billion USD buying Ukraine’s bonds, to rescue Ukraine from bankruptcy.

In another development, Russian Foreign Minister Sergei Lavrov accused the West of pressing Ukraine to draw closer to the EU even though Kiev has signed a number of cooperative agreements with Moscow.