On Sunday, the foreign ministers of the G7 called on Russia to "de-escalate" matters regarding Ukraine and to return to diplomatic channels.

After their meeting in Liverpool today, a draft statement of the meeting of the G7 warned Russia of "serious consequences" if it did not comply.

The Kremlin responded that there are very dangerous differences in perceptions regarding red lines between Russia and the US.

Washington earlier warned Russian President Vladimir Putin against invading Ukraine, threatening that Russia would pay a "terrible price" and face devastating economic consequences.

Britain is hosting a meeting of foreign ministers of the G7 in Liverpool, northern England, with the attendance of US Secretary of State Anthony Blinken and counterparts from Canada, France, Italy, Germany, and Japan.

The meeting comes amid western fears regarding the expansion of China's powers, particularly military, and the possible failure of the Vienna Talks regarding Iran's nuclear program.

The US had earlier warned Russia to withdraw from the Ukrainian borders, warning that G7 and allies would impose "tough measures" if Moscow "abandons diplomacy".

Biden also said the United States would provide additional defense aid to Kiev beyond what it currently provides and support NATO allies in the Alliance's eastern flank.

On his part, Russian President Vladimir Putin confirmed that Moscow pursues a peaceful foreign policy but has every right to defend its security in the medium and long terms.