KIEV, Dec. 24 – The International Monetary Fund said the government of President Viktor Yanukovych had largely abandoned much-needed economic reforms after accepting $15 billion in loan from Russia , The New York Times reported.

Russian President Vladimir Putin announced on Tuesday that Russia would use $15 billion from its national welfare fund to buy Ukrainian eurobonds, and that Gazprom, Russia ’s state-controlled energy company, would reduce the price of gas to $268.50 per 1,000 cubic meters, from the current $395 to $410, saving Ukraine about $2 billion a year.