US President Donald Trump and his Russian counterpart Vladimir Putin will hold a summit in the Finnish capital, Helsinki, next month.
They will meet on 16 July and discuss relations between the two countries and a "range of national security issues", the Kremlin and White House said.
The face-to-face meeting comes at a time of poor relations between Russia and Western nations.
Nato's chief welcomed the talks, saying "dialogue is a sign of strength".
"We don't want a new Cold War, we don't want to isolate Russia, we want to strive for a better relationship with Russia," Jens Stoltenberg said.
Mr Trump's visit to Helsinki will follow a Nato summit in Belgium and a stop in Britain for talks with Prime Minister Theresa May.
What will be discussed? While the White House and Kremlin statements were both short on detail, Mr Trump earlier said he would discuss the war in Syria and the situation in Ukraine.
He went on to say: "I think we'll be talking about many other subjects. And we'll see what happens... I think a lot of good things can come with meetings with people."
Since becoming president in January 2017, Mr Trump has sought to improve relations with Russia. Earlier this month, he alarmed allies by saying Russia should be readmitted to the G7 group of industrialised nations.
Russia was suspended from what was then the G8 after it annexed Crimea from Ukraine in 2014. Moscow has also been accused of meddling in the elections of a number of Western countries - mostly notably the 2016 US election won by Mr Trump.
All you need to know about Trump Russia story Russia-Trump: Who's who in the drama to end all dramas? US National Security Adviser John Bolton, who helped set up the summit, said the lifting of US sanctions imposed after the annexation of Crimea was not on the table for discussion.