Donald Trump is set to visit Vladimir Putin in Russia after the pair spoke at length, agreeing to "begin negotiations immediately".
"We agreed to work together, very closely, including visiting each other’s nations," Trump posted on social media.
The pair agreed to have "our respective teams start negotiations immediately" where the war in Ukraine is concerned.
Putin last spoke to a sitting U.S. president in February 2022, when he engaged in a call with Joe Biden over troops in Ukraine.
"We will begin by calling President Zelenskyy, of Ukraine, to inform him of the conversation, something which I will be doing right now," Trump said on Wednesday.
Trump claims the leaders both "believe very strongly" in common sense and have committed in a phone call to visit each other’s countries.
The US president added he will be "informing" Ukraine’s leader Volodymyr Zelenskyy of their conversation.
"The fact he was on the phone with both President Putin and President Zelenskyy today shows he is actively involved in negotiations," Karoline Leavitt told the media during a White House press conference on Wednesday evening.
At a Nato meeting in Brussels earlier in the day, America’s defence secretary said Europe should be "empowered" to "own responsibility for its own security".
Following Trump’s comments, Kremlin spokesperson Dmitry Peskov confirmed the pair’s call "was a very long telephone conversation" that "lasted almost an hour and a half".
"The heads of state discussed matters related to the exchange of Russian and US citizens," Mr Peskov said.
"The US President assured that the American side would fulfil all the reached agreements. The topic of Ukraine settlement was also discussed.
"President Trump spoke in favour of the rapid cessation of hostilities and the solution of problems through peaceful means.
"President Putin, for his part, mentioned the need to eliminate the root causes of the conflict and agreed with Trump that a long-term settlement can be achieved through peaceful negotiations.
"The Russian President invited the US President to visit Moscow and expressed readiness to receive American officials in Russia regarding areas of mutual interest, including, of course, the topic of Ukrainian settlement," Mr Peskov continued.
"Putin and Trump also agreed to continue personal contacts, including setting up a personal meeting,” he added.
It comes hours after US Defence Secretary Pete Hegseth labelled Ukraine’s Nato membership plans an "unrealistic" prospect.
The defence secretary also confirmed that US troops will not act as peacekeepers on the ground in Ukraine.
Hegseth added that Washington will "no longer tolerate an imbalanced relationship" with its allies.
He added that "Europe must provide the overwhelming share of future lethal and non-lethal aid to Ukraine".
"The United States remains committed to the NATO alliance and to the defence partnership with Europe, full stop," he said.
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