Finnish President Sauli Niinisto said on Tuesday that the Ukraine crisis has generated a deep mistrust between the EU and Russia.

Niinisto made the remarks after discussing the situation in Ukraine with visiting Estonian President Toomas Hendrik Ilves in Helsinki, according to a press release issued by the presidential office.

Niinisto said the Ukraine crisis made Europe face a new situation, which no one could predict.

"It seems as if we have been taking steps backwards. I don't mean a new Cold War, but we are facing a deep mistrust time between the EU and Russia, which may continue for a long time," said Niinisto.

However, he pointed out that the most important thing at the moment is to prevent the violence from spreading out.

According to Niinisto, Finland is ready to increase its contribution to the observation mission of the Organization for Security and Co-operation in Europe (OSCE).

Meanwhile, both presidents believed that the upcoming Ukrainian presidential election is important to country's situation.

In addition to the Ukraine crisis, the discussion between the two presidents also focused on the bilateral relations between Finland and Estonia, as well as regional economic and security cooperation.

Ilves is making a state visit to Finland from May 12 to 14.