Barack Obama suggested that Russia put a concrete response in writing, his spokesman said in a statement.
According to the Kremlin, Vladimir Putin suggested examining how the situation could be stabilized.
Russia’s annexation of Crimea has sparked international condemnation.
Barack Obama urged Vladimir Putin to avoid the build-up of forces on the Russian border with Ukraine.
The White House said the two countries’ foreign ministers would meet soon to discuss the next steps.
The US proposal was developed in consultation with Ukraine and other European countries.
Barack Obama received Vladimir Putin’s call in Saudi Arabia – the latest leg of a trip which also took him to Europe where the Ukraine crisis dominated discussions.
The Kremlin said in a statement that Vladimir Putin drew Barack Obama’s attention to “the continued rampage of extremists” in Kiev and various regions of Ukraine.
Vladimir Putin suggested examining possible steps the global community could take to help stabilize the situation, the Kremlin statement said.
Meanwhile in New York, the UN Secretary General Ban Ki-moon said he had been assured by Vladimir Putin that the Russian leader “had no intention to make any military move”.
Russia’s reported troop movements near Ukraine’s eastern border – described as a “huge military build-up” by NATO – has triggered fears that Vladimir Putin’s interest in Ukraine is not limited to Crimea.
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