The European Union (EU) called on Russia to deescalate situation in Ukraine, European Council President Herman Van Rompuy said on Wednesday before the G7 summit.

Van Rompuy also voiced support for elections and reforms in Ukraine.

"As a sign of the EU's continued support and commitment, I will attend the inauguration of the new president in Kiev on Saturday," Van Rompuy said.

"We welcome the Ukraine presidential elections. We will work with the government for sovereignty, territorial integrity, stability and reforms," he added.

Addressing current energy concerns caused by the Ukraine crisis, Barroso expressed confidence that Russia and Ukraine could reach a fair energy agreement.

Apart from the situation in Ukraine and relations with Russia, leaders of the G7 group will discuss the global economy, energy, climate change and development, according to a statement issued by the EU.