Washington DC/Moscow: Nearly three weeks after a disastrous meeting with Ukraine's President Zelenskyy at the White House, US President Donald Trump Tuesday called his Russian counterpart in a fresh attempt to resolve the conflict.

Trump, who called Vladimir Putin at 10 am Eastern Time (US), spoke to the Russian leader for over two hours, the White House said.

"Both leaders agreed this conflict needs to end with a lasting peace. They also stressed the need for improved bilateral relations between the United States and Russia. The blood and treasure that both Ukraine and Russia have been spending in this war would be better spent on the needs of their people," the White House stated.

Both leaders negotiated ways to secure a ceasefire in the Eastern European conflict zone.

Ten thousand lives have been lost so far in the war that has been going on for more than three years.

Even before the phone call, President Trump had made it clear that he was ready to discuss what parts of captured Ukraine Russia would be allowed to keep.

Moscow and Washington are believed to be working on "dividing up certain assets," the US President said over the weekend.

European nations are worried that President Trump, who has not hidden his admiration for Russia's Putin, may agree to cede too much Ukrainian territory to Russia, NDTV reported.

They are also very concerned that Ukraine is not being consulted on decisions that may be agreed upon in today's phone call.

US negotiators travelled to Russia last week for talks on a possible ceasefire with Ukraine after Kyiv agreed to a 30-day truce.

Ukraine had agreed to a US proposal for a 30-day general ceasefire with Russia, with the United States in turn promising to lift restrictions on military aid and intelligence sharing, a joint statement by the two sides said.

Following talks in Saudi Arabia, the two sides agreed to conclude "as soon as possible" a deal on Ukrainian minerals, the statement said.