US President Donald Trump said today at the World Economic Forum in Davos that he wants to meet soon with his Russian counterpart Vladimir Putin to ensure an end to the nearly three-year war in Ukraine.

In the wake of his victory in the November 5 election, Trump declared dozens of times that he would reach a deal between Ukraine and Russia on his first day in office, if not before. His advisers now acknowledge that it will take months to resolve the conflict.

"I would really like to meet with President Putin soon to end that war. Millions of lives are being lost, this is a massacre," Trump said via video link in Davos.

Trump also said that US efforts to secure a peace solution were underway, but he did not provide details.

"If we don't reach a deal, soon, I will have no choice but to increase taxes, tariffs and sanctions on everything Russia can sell to the United States, as well as other countries that join in," Trump said.

Moscow responded that it was ready for dialogue, but with mutual respect.