From Russia Today:
The agreement requires a political reform in Ukraine to ensure decentralization and a special status for its rebel provinces. It requires Ukraine to adopt legislation which would provide permanent privileges to the Lugansk and Donetsk Regions, currently self-declared republics, by the end of 2015.
The legislation would include the right for language self-determination and trans-border ties with Russia, as well as the authority of the local governments to appoint local prosecutors and judges, the document states…
Putin said that Kiev’s unwillingness to hold direct talks with the self-proclaimed Donetsk and Lugansk People’s Republics was among the reasons it took so much time to reach an agreement.
“They may be unrecognized, but we have to deal with real life here, and if everyone wants to agree and have sustainable relations, direct contacts are needed,” Putin said.