This is a developing story. We will continue to update this article as more information becomes available.
Ukrainian President Viktor Yanukovych on Wednesday released a statement declaring a truce between his government and opposition leaders who have been heading mass protests against the regime since November.
See also: Photos: This Is Kiev Right Now
Yanukovych held a meeting with Chairman of the Verkhovna Rada of Ukraine Volodymyr Rybak and members of the Working Group on the Settlement of Political Crisis. According to a statement from the president's office:
Following the meeting, the parties declared:
1. Truce
2. Beginning of negotiations aimed at cessation of bloodshed and stabilization of the situation in the country for the sake of civil peace.
In response to a new wave of violence that left 26 dead on Tuesday, European Union leaders on Wednesday called an "extraordinary" meeting to discuss sanctions against Ukraine, specifically targeting Yanukovych and other government figures.
UK Prime Minister David Cameron was one of many Western leaders to speak out against the Ukrainian government. He issued a statement on Wednesday saying he is "deeply concerned" about the situation in Ukraine. He also blamed Yanukovych for taking part in the violence, urging him to "pull back government forces and de-escalate the situation."
Hours later, U.S. President Obama, who says he is working closely with the EU on next steps, also publicly condemned "in the strongest terms" the clashes in Kiev, holding the government responsible for the ongoing tension.
"And I want to be very clear as we work through these next several days in Ukraine that we’re going to be watching closely and we expect the Ukrainian government to show restraint, to not resort to violence in dealing with peaceful protestors," Obama said.
"But regardless of how the Ukrainian people determine their own future it is important the people themselves make those decisions and that’s what the United States will continue to strive to achieve," he added.