WASHINGTON - US Vice President Joe Biden hailed the formation of a new

Yanukovych still considers himself Ukraine head?

Ukrainian government as an important opportunity for peace, said a statement issued by the White House Thursday.

The new government will also help restore the faith of all Ukrainians in their country's democratic institutions as they prepare for new elections in May, Biden made the remarks when having a phone conversation with newly-appointed Ukrainian Prime Minister Arseniy Yatsenyuk.

Biden reassured Yatsenyuk that Washington will offer its full support, as Ukraine undertakes the reforms necessary to return to economic health, pursue reconciliation, uphold its international obligations, and seek open and constructive relationships with all of its neighbors, the statement said.

Yatsenyuk was named as the new Ukrainian prime minister Thursday after the parliament sacked president Viktor Yanukovych and dismissed the government Saturday.