During the conversation, Putin stated that Russia and the US should not sacrifice their relationship for a separate - albeit important - international problems.

"(He) stressed the paramount importance of Russian-American relations to ensure stability and security in the world. These relations should not be sacrificed for individual differences, albeit very important ones, over international problems," according to the Kremlin's statement.

Putin added that Russia cannot ignore calls for help and is adequately responding within the framework of international law.

"Russia cannot ignore calls for help in this matter and it acts accordingly, in full compliance with the international law," Putin said.

Obama also called on Putin to accept the terms of a diplomatic plan that would require Russia to pull troops back to bases in Crimea and discussed a proposal that would allow international monitors to "ensure that the rights of all Ukrainians are protected, including ethnic Russians," according to a White House statement.