U.S. President Joe Biden said on Wednesday putting American troops on the ground in Ukraine to deter a potential Russian invasion was "not on the table" and he hoped to announce a meeting with Russia and other NATO countries by Friday, Reuters reports.

Speaking to reporters as he left the White House, Biden said he had made it clear to Russian President Vladimir Putin during his nearly two-hour virtual meeting on Tuesday that there would be economic consequences like none before if Russia invades Ukraine. He said he was confident Putin got the message.

Biden said there would be high-level meetings with Russia and at least four major NATO allies to "discuss the future of Russia's concerns relative to NATO writ large" and whether or not accommodations could be worked out as it related to "bringing down the temperature along the eastern front."

Biden said the United States had a moral and legal obligation to defend NATO allies if they are attacked, but that obligation did not extend to Ukraine.

"That is not on the table," Biden said when asked if U.S. troops would be used to stop a Russian invasion of Ukraine.