"The Prime Minister and President Biden updated one another on their recent discussions with fellow world leaders. They agreed there remained a crucial window for diplomacy and for Russia to step back from its threats towards Ukraine," the statement says.
They also stressed that "any further incursion into Ukraine would result in a protracted crisis for Russia, with far-reaching damage for both Russia and the world."
US Defense Department spokesperson John Kirby said Monday that Washington welcomes the comments of Russian Foreign Minister Sergey Lavrov that time and space still exist for diplomacy to resolve escalating tensions.
Russia has repeatedly denied the West's allegations about preparations to invade Ukraine, saying it has no plans to attack any country but reserves the right to move troops on its sovereign territory as it sees fit. Russia has warned that NATO's plans to expand eastward represent a direct threat to its national security.