The European Union and Ukraine have signed a 1.8 billion euro loan deal in an effort to help revive the country's economy.
It requires Ukraine to adopt a series of reforms including anti-corruption measures to remedy structural problems in its economy.
In the first quarter of 2015, Ukraine's economy contracted by nearly 18 percent from the previous year as the country struggled with the impact of unrest in the industrial heartland of the east.
US Secretary of State John Kerry is set to meet with Russian President Vladimir Putin in Russia today to discuss the ongoing conflicts in Ukraine and Syria.
Kerry is reportedly planning to try to gauge Putin's willingness to push pro-Russia separatists in Ukraine to comply with the current fragile ceasefire and also to try and establish how supportive Russia are towards Syrian President Bashar Assad.
The US State department have described Kerry's trip to Sochi as part of an "ongoing effort to maintain direct lines of communication with senior Russian officials".
Kerry is also expected to lay a wreath at a World War II memorial during his visit before departing for a Nato meeting in Turkey later in the day.
Two Ukrainian servicemen have been killed and five have been wounded in the past 24 hours in Eastern Ukraine, according to military sources in Kiev.
Prime Minister Arseny Yatseniuk insists that the situation is under control as emergency services battle to contain blazeRead the full story ›
America has pledged an additional $17.7 million to provide the Ukrainian government with aid for essentials such as food, shelter and water.
Vice President Joe Biden spoke with Ukrainian President Petro Poroshenko about reform efforts in the country today.
A statement from the White House said: "The vice president welcomed the appointment of a new head of the anti-corruption bureau and encouraged the further implementation of rule of law reforms, including anti-trust measures and judicial reform."
Ukrainian President Petro Poroshenko has ordered a “quick and transparent” investigation has been ordered into the murders of a pro-Russian journalist and a former politician loyal to the ousted former leader Viktor Yanukovich.
Oles Buzina, 45, was known for his pro-Russian opinion pieces published in Ukraine's Sevodnya daily newspaper, and was shot dead by two masked gunmen in Kiev.
Ex-member of parliament for Yanukovich's discredited Party of Regions, Oleh Kalashnikov, was killed in a similar attack as he entered his home the day before.
In an official statement, President Poroshenko said; “Their nature and political import are clear - this is a deliberate act, which plays into the hands of our enemies.”
A number of foreign ministers from Germany, France, Russia and Ukraine agreed to push ahead with the withdrawal of heavy weapons from eastern Ukraine where violence has escalated after tough talks in Berlin.
"We agreed today not only to continue with the withdrawal of heavy weapons but also to include other categories of weapons in the withdrawal," German Foreign Minister Frank-Walter Steinmeier told reporters after the talks had finished, adding weapons to be withdrawn would now include tanks.
"Nothing is easy in the Ukraine crisis, this is not new. During these talks today the differences of opinion between Kiev and Moscow also became clear once again," he said, detailing an agreement between ministers at the talks.
The Ukrainian energy ministry has said in a statement that Ukraine has signed a new agreement to buy Russian gas over the next three months at $248 per thousand cubic metres.
The agreement extended all the other terms of the 'winter package' which has just lapsed between Ukraine's state gas concern Naftogaz and Russia's gas giant Gazprom, the statement said.
The agreement represented a "victory" for an economic approach to relations between Naftogaz and Gazprom over a political one, Energy Minister Volodymyr Demchyshyn was quoted as saying on the energy ministry's website.
US Vice President Joe Biden and Ukrainian President Petro Poroshenko have agreed that sanctions against Russia must be tied to the full implementation of the Minsk peace plan, the White House said.
"As long as Russia continues to fuel violence and instability in Ukraine, the international community must be prepared to increase the costs to Russia for pursuing such actions," a statement reads.
Biden also welcomed the decision by the Ukrainian parliament to allow special status for rebel-controlled eastern regions and grant them limited self-rule.
Biden and Poroshenko made the agreement in a telephone call.
The European Union has voiced deep concern at continuous military build-up and deterioration of human rights situation in the Crimea region of Ukraine.
"The European Union does not recognise and continues to condemn this act of violation of international law," EU foreign policy chief Federica Mogherini said in a statement marking the anniversary of Russia's annexation off the Ukrainian region. She said the EU would remain committed to its policy of not recognising the annexation, including through sanctions.
"The EU reaffirms its deep concern at the continuous military build-up and deterioration of the human rights situation in the Crimean peninsula, including the denial of free speech and the persecution of persons belonging to minorities," she said.