The European Union has called an extraordinary meeting of its foreign ministers on Thursday as the violence in Ukraine escalates, with the bloc expected to impose sanctions on those responsible for the bloodshed in Kiev.

In a statement released by the European Commission, the EU's executive, President Jose Manuel Barroso said that the EU would respond to any deterioration on the ground in Ukraine.

"We therefore expect that targeted measures against those responsible for violence and use of excessive force can be agreed by our member states as a matter of urgency," he said on Wednesday. The measures the EU could opt for could include financial sanctions and visa restrictions. (Read more: Ukraine protesters confront police anew after nation's bloodiest day)

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Ukraine president Viktor Yanukovych replaced the army chief and the military said it would take part in a national anti-terrorist operation to restore order. The move came a day after 25 people were killed and over 425 injured in clashes between police and protesters at the sprawling protest camp in the Ukrainian capital. Officials have often referred to the protesters who have demanded Yanukovych's resignation for months as "terrorists." Meanwhile, President Barack Obama warned on Wednesday that there would be consequences if violence continues in Ukraine, saying the Ukrainian military should not step into a situation that could be resolved by civilians. Speaking to reporters ahead of a meeting with Mexican President Enrique Pena Nieto, Obama said he condemned the violence in Kiev in the strongest possible terms, and said he believes a peaceful resolution is still possible. Several ministers from across Europe also called for tough action on President Yanukovich and blamed Russia for exacerbating the violence.

"We see unacceptable Russian pressure and threats, based on the faulty logic of the zero-sum game, being brought to bear on those who seek closer cooperation with the EU," Carl Bildt, Sweden's minister for foreign affairs said in a statement on Wednesday. He added on Twitter that President Yanukovich had "blood on his hands." Carl Bildt tweet Donald Tusk, the prime minister of Poland, said he would pressure other EU leaders to impose sanctions on Ukraine's government, according to Reuters. (Read more: Renewed violent Ukraine unrest, markets badly hit)