US President Joe Biden and Russian President Vladimir Putin. (Photo: AFP)

The office of French President Emmanuel Macron said in a statement on Monday he had pitched both leaders on a summit over "security and strategic stability in Europe."

The White House said in a statement that Biden had accepted the meeting "in principle" but only "if an invasion hasn't happened."

Macron's office and the White House said the substance of the summit would be worked out by US Secretary of State Antony Blinken and Russian Foreign Minister Sergei Lavrov during their upcoming meeting planned for Thursday.

News of Macron's proposal comes after a week of heightened tensions spurred by Russia's military buildup on Ukraine's borders. Russian forces have been amassing around its neighbor since late last year, something Western countries say is a prelude to an invasion that could come at any moment.

Moscow denies any intention to invade.