Wednesday’s four-way talks in Paris, which will also be attended by France and Germany, started at noon [11:00 GMT].
The meeting marks a revival of the group’s so-called Normandy Format talks, last held in 2019.
It comes as the West, led by the United States, is threatening to impose sweeping sanctions on Russia – including personal sanctions on President Vladimir Putin – should it attack Ukraine.
Russia, which has amassed thousands of troops at the Ukraine border, denies it is making plans to attack its neighbour and blames NATO for undermining the region’s security.
The Kremlin says imposing personal sanctions on Putin, as the US has threatened to do, would have no effect and be counterproductive in efforts to lower tensions over Ukraine.
“Politically, it’s not painful, it’s destructive,” Kremlin spokesman Dmitry Peskov told reporters.