The President of the Russian Federation Vladimir Putin and US President Joe Biden discussed the situation at Russia’s border with Ukraine where both countries are reinforcing their military might.
The west fears that Russia is planning an attack on its neighbor.
The talk was held via a video conference call.
Biden warned Putin that in case he takes such a step and invades Ukraine strong sanctions will be imposed on Russian banks making them unable to operate.
Russia said that the talks delivered no progress and the accusations of the west are baseless.
The position of Russia consists of the notion that the troops at the border are kept there for security only.
The country argues that its actions are a response to NATO’s expansion and its support of Ukraine.
Among the points that Russia wants ruled out is a promise from Ukraine that it would not attempt to retake Crimea by the use of force.
European Commision President Ursula von der Leyen confirmed the absence of any breakthroughs of the talks.
"We will respond to any further aggressions by scaling up and expanding existing sanctions. We are ready to take additional restrictive measures, in coordination with our partners," she said in a statement.