Russian President Vladimir Putin has said he is ready to meet with US President Donald Trump at an upcoming Arctic summit, while continuing to reject allegations that Russia meddled in the US presidential election.

Key points: Putin says cutting relations could "bring the Cuban Missile Crisis days" back

Putin says cutting relations could "bring the Cuban Missile Crisis days" back Finland's president affirms he would be honoured to host the two leaders

Finland's president affirms he would be honoured to host the two leaders Hearings on Russia's alleged involvement in the 2016 election commence in the US

Hearings on Russia's alleged involvement in the 2016 election commence in the US Putin again dismisses the accusations of Russia's involvement as a distraction

Speaking at an Arctic forum in Arkhangelsk, Mr Putin said he would be glad to meet with Mr Trump at a summit bringing together Arctic nations' leaders.

Finnish President Sauli Niinisto, whose country is set to take the rotating leadership in the Arctic Council in May, responded that he would be honoured to host such a meeting.

It is not the first time Mr Putin has floated the idea of a meeting with Mr Trump.

Russia had hoped for a thaw in relations with the United States after Mr Trump's election, but that has been dashed by the congressional investigation of possible links between Mr Trump's campaign and Russia.

As Mr Putin re-iterated his willingness to meet with Mr Trump, back in Washington hearings were underway to investigate Russia's alleged involvement in the 2016 US presidential election.

Sorry, this video has expired Journalist Niels Lesniewski discusses the probe into Russia's alleged involvement in the 2016 election.

"I will not prejudge the outcome of our investigation," Senator Mark Warner told a rare public intelligence committee.

"We are seeking to determine if there is an actual fire, but so far there is a great, great deal of smoke."

But Mr Putin again dismissed on Thursday what he called "endless and groundless" accusations of Russian meddling in the US election, describing them as part of the US domestic political struggle.

He sharply criticised what he described as the use of the "Russian card" in US domestic politics, saying it contradicts American interests.

"Do we want to completely cut relations?" he said.

"Do we want to bring the situation to what it was during the Cuban Missile Crisis of the 1960s?"

Earlier this year, Mr Putin thanked Slovenia for its offer to host a proposed meeting with Mr Trump, but noted that it would depend on Washington.

Reuters/AP