"I have done this for two reasons. Firstly – I was legally obliged to do so, as it is stipulated in the Constitution. And secondly, I do not want to hinder my colleagues, members of the party from conducting an efficient policy," he said in an exclusive interview with Interfax-Ukraine on Wednesday.

Yanukovych said that Azarov is a "unifying figure" in the party. "He (Azarov) is very experienced and once was chairman of the party," the president said.

"I decided to hand over the chairmanship in the party, and in the faction to Azarov," Yanukovych said.

Yanukovych headed the Party of Regions for almost seven years. He was elected the party leader at a congress held on April 19, 2003. He succeeded former vice-premier Volodymyr Semynozhenko in this post.

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