Addressing reporters on Sunday, Erjavec expressed a grave concern over the situation in Ukraine, underscoring the imperative was to preserve the country's territorial integrity and sovereignty and to find a peaceful resolution to the crisis.

An emergency session of EU ministers over the latest escalation was called by the EU's foreign affairs chief Catherine Ashton, who plans to meet Russian Foreign Minister Sergey Lavrov after the session before travelling to Kiev on Wednesday.

Ashton urged Russia on Saturday to refrain from deploying its armed forces in Ukraine and to abide by international law.

Erjavec expects the ministers will also discuss how to provide a financial aid to Ukraine as soon as possible. "The estimate is that Ukraine would need between 25 and 35 billion dollars at the moment."

Considering Slovenia's good relations with Russia, Erjavec plans to propose to the ministerial for Slovenia to try to act as a mediator.

"We can see that EU foreign ministers, in particular those from Poland, Germany and France, have already been engaged in dialogue between the opposition and the government. But we have been underscoring all the time that it is also necessary to be in a continuous dialogue with the Russian Federation."

Erjavec believes the main mistake was the EU's plan to sign a key trade and association agreement with Ukraine without dialogue with Russia. "I believe a dialogue with the Russian Federation is also needed," he said.