Ukraine signs trade deal with EU

Ukraine's president has signed a landmark trade deal with the EU months after his Russia-backed predecessor was toppled following his refusal to forge closer ties with the bloc. Petro Poroshenko said in Brussels on Friday that the accord, known as the Deep and Comprehensive Free Trade Agreement, marked a "historic day" that offered his former Soviet country a fresh start after years of political instability. "Over the last months, Ukraine paid the highest possible price to make her European dreams come true," Poroshenko told EU leaders. Georgia and Moldova also signed similar deals. Ukraine will use "the opportunity to modernise," he said, stressing the importance of peace and security for its future and that of the region. The accord was a "demonstration of EU solidarity," he added. Russia immediately said "grave consequences" would follow as the Kremlin sees the deal threatening its influence on the country. Viktor Yanukovich, Ukraine's former pro-Moscow president, turned his back on the EU agreement last November in favour of closer ties with Moscow, prompting months of street protests that eventually led to his fleeing the country. Soon after he fled, Russia annexed Ukraine's Crimea region, drawing outrage and sanctions from the United States and EU.