Ukrainian President Viktor Yanukovych on Tuesday accepted the resignation tendered by Prime Minister Mykola Azarov earlier in the day, and the government is subsequently dissolved, according to the presidential office.

"Under article 115 of the Constitution of Ukraine, the resignation of the prime minister of Ukraine results in the resignation of the cabinet of ministers of Ukraine. Thus, the president has accepted the resignation of the government as well," read a press release posted on the Ukrainian presidency's official website.

Under the same article, the cabinet of ministers are instructed to "continue the fulfillment of its duties until the newly-formed cabinet of ministers starts working."

Earlier on Tuesday, Azarov offered to quit over the ongoing political crisis in the East European country.

"Aiming to create an additional possibility for a political compromise to peacefully resolve the conflict, I have taken a decision to ask Ukrainian president to accept my resignation from the post of prime minister," Azarov was quoted by the government's press service as saying.

He said the government had been forced to work under extreme conditions and had done everything possible during the standoff for a peaceful resolution to the two-month crisis.

Azarov said the tense situation in Ukraine threatened the economic and social development of the country and posed a threat to the entire society.

Azarov, 66, an ally of President Yanukovych, has been premier since Yanukovych's election in February 2010. On Saturday, Yanukovych offered the position of prime minister to opposition leader Arseny Yatsenyuk. However, Yatsenyuk has not agreed to take this post.

Mass protests were sparked in Ukraine last November following a government decision to snub an association agreement with the European Union and opt for closer relations with Russia.

Political tensions escalated on Jan. 19 when protesters attacked riot police with fireworks and petrol bombs after the parliament approved a controversial law limiting the rights of protesters.

Last week, at least three people were reported dead and hundreds of others, including police officers, were injured during clashes. Ukraine's parliament on Tuesday passed a bill repealing the controversial legislation.

A total of 361 deputies of the 412 present in the 450-seat parliament supported the proposal to scrap the laws, which included a ban on unauthorized tents in public areas, prohibited the wearing of masks and helmets during public assembly, and allowed a jail term of up to five years for those who block public buildings.

During the talks with opposition leaders late Monday, Yanukovych agreed to repeal the Jan. 16 legislation.