Russia said Thursday escalating tensions over Ukraine could lead to a reoccurrence of the Cuban missile crisis, which took place in 1962 and brought the world to the brink of nuclear war.

Deputy Russian foreign minister Sergei Ryabkov made the comment when asked if the current situation could turn into something that resembles the Cold War standoff between the United States and the Soviet Union.

"You know, it really could come to that," Interfax quoted him as saying. "If things continue as they are, it is entirely possible by the logic of events to suddenly wake up and see yourself in something similar."

The comments came as the West and Kyiv allege that Moscow is preparing for a military invasion of Ukraine, which Russia has repeatedly denied.

Moscow has expressed concerns over Ukraine's relations with NATO and accused the alliance of seeking to deploy its missiles there and target Russia.

US President Joe Biden had warned his Russian counterpart Vladimir Putin that Washington and its allies would confront any Russian military invasion of Ukraine with harsh economic sanctions.

Russian Foreign Ministry spokeswoman Maria Zakharova announced that Washington would bestow upon those participating in the "Summit for Democracy", which is scheduled on December 9 and 10, the "honor" of serving US interests.

Biden to discuss Russia with Ukraine

The White House said on Wednesday that US President Joe Biden plans to call Ukrainian President Volodymyr Zelensky on Thursday, December 9, to discuss the results of his talks with Russian President Vladimir Putin.

The statement also said that Biden will be speaking with the Bucharest Nine, which is a group of countries on the eastern edge of NATO, comprising Poland, Romania, Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, and Slovakia, on the same subject.

Biden will also hear their input on the current security situation, and "underscore the US commitment to Transatlantic security."

The Putin-Biden summit, which took place two days ago, had a direct impact on the Russian market, which registered a growth following the talks.

Russia "has the right to defend its security"

Though he hailed the talks as "constructive", Putin said Russia "has a peaceful foreign policy, but has the right to defend its security."

"Russia is seriously interested in obtaining reliable legal guarantees that will exclude NATO's eastward expansion and the deployment of offensive strike weapons in countries adjacent to Russia," a Kremlin statement mentioned.

The Biden administration has discussed imposing economic sanctions with its European allies. Biden raised the potential for economic retaliation with Putin as a consequence of breaching Ukraine’s sovereignty, according to National Security Advisor Jake Sullivan.