Russian President Vladimir Putin on Monday signed a decree to approve the formation and lineup of the new government, local media reported.

"All decrees have been signed. As was agreed, work has been done with every candidate," the Interfax news agency quoted Putin as saying.

During a meeting with Putin on the new government's structure, Prime Minister Dmitry Medvedev told him that about three-quarters of the government's lineup was new names.

The president-turned prime minister submitted the lineup before he attended a Group of Eight (G8) summit at David Camp in the United States.

Igor Shuvalov remains as first deputy prime minister, while Sergei Lavrov holds his position as foreign minister. Moscow police chief Vladimir Kolokoltsev was appointed as the new interior minister and Andrei Belousov was named as the new economic development minister.

After appointing the cabinet, Putin said the newly-unveiled government faces challenges of developing Russia in the uncertain global economic atmosphere.

Though "a lot has been done in recent times," not all goals have been realized, and "still more remains to be done," the president said.