Russia will be stripped of Champions League which was due to take place as the Gas Prom stadium on 28 May in the city of St Petersburg.
On Wednesday the British Prime Minister said that Russia must not have a “chance of holding football tournaments.”
It is expected that the announcement will be made on Friday as the UEFA president Aleksander Ceferin has called for an extraordinary meeting.
“Following the evolution of the situation between Russia and Ukraine in the last 24 hours, the UEFA president has decided to call an extraordinary meeting of the executive committee for Friday 25 February at 1000 CET (0900 GMT), in order to evaluate the situation and take all necessary decisions,” confirmed a UEFA statement on Thursday.
“Further communication will be made after the meeting of the UEFA executive committee.”
The Football Supporters Europe (FSE), an independent fan-led organisation, have demanded UEFA to make an “imminent” statement on the Champions League final.
“On this tragic day, our thoughts are with everyone in Ukraine, our friends, colleagues, members, & their loved ones,” the FSE’s official Twitter account wrote.
“Given the events unfolding, we expect an imminent announcement from UEFA on the relocation of the Champions League final from St Petersburg.”