Boris Johnson will lead a meeting of the Government's Cobra emergency committee today (Tuesday 15 February).
The meeting will be held in hopes to find a diplomatic solution to the Ukraine crisis.
The efforts continue to stop the war in eastern Europe as Boris Johnson and US President Joe Biden stressed there remains “a crucial window for democracy”.
In a call that took place on Monday evening, the two leaders agreed that western allies need to stay "united in the face of Russian threats" according to a No 10 spokesperson.
Mr Johnson pointed the warnings from the US that Russia could invade imminently, but that there was also time for Russia to step back from the "edge of a precipice".
The Cobra meeting was arranged following Mr Johnosn being briefed with the late intelligence from the UK's spy chiefs.
Details of the call with the PM and the US leader were revealed by a Downing Street spokesperson: "The Prime Minister and President Biden updated one another on their recent discussions with fellow world leaders. They agreed there remained a crucial window for diplomacy and for Russia to step back from its threats towards Ukraine."
Adding: "The leaders emphasised that any further incursion into Ukraine would result in a protracted crisis for Russia, with far-reaching damage for both Russia and the world.
"They agreed that western allies must remain united in the face of Russian threats, including imposing a significant package of sanctions should Russian aggression escalate."
The two leaders have said they will keep in close contact as the situation develops.
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