A deal has been struck among Russia, Ukraine, the United States and the European Union agreeing to steps to 'de-escalate' the crisis in eastern Ukraine.
The foreign ministers of the respective countries made the announcement while speaking at the end of talks between Russia, Ukraine, the EU and US in Geneva.
Analysts said that the outline agreement could stay economic sanctions the West was preparing to impose on Russia.
According to the BBC, following the Geneva talks, Russian Foreign Minister Sergei Lavrov, Ukraine's Foreign Minister Andriy Deshchytsia, US Secretary of State John Kerry and EU foreign policy chief Catherine Ashton said there was agreement that all illegal military formations in Ukraine must be dissolved, and that everyone occupying buildings must be disarmed and leave them.
They said that there would be an amnesty for all anti-government protesters under the agreement.
These steps will be overseen by monitors from the Organization for Security and Co-operation in Europe (OSCE).
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US President Barack Obama called the deal promising, but said the question remained whether Russia would now use its influence to restore order in Ukraine.
The Russian foreign minister also insisted his country had no desire to send troops into Ukraine.