U.S. and Russia diplomats are set for a first face-to-face meeting this week in Iceland. Top diplomats from both sides are expected to have high-level discussions on several issues, while also paving the way for a summit between President Joe Biden and Russian leader Vladimir Putin next month.

U.S. Secretary of State Antony Blinken and his Russian counterpart, Foreign Minister Sergey Lavrov, are set to meet and talk Wednesday on the sidelines of the Arctic Council meeting in the Iceland capital Reykjavik.

Tensions between Russia and the U.S. continue to be elevated and the two diplomat's opposed positions are expected to make the upcoming talks difficult and contentious.

The U.S. has been vocal about its issues with Russia, including its opposing views on issues such as Russia's treatment of opposition figure Alexey Navalny, Ukraine and alleged cyberattacks - including the recent ransomware attack on a key U.S. pipeline.

Blinken said he was open to discussions and the country wants nothing more than a stable relationship with Russia. However, the U.S. is willing to respond in kind if Russia chooses to take any "undesirable" actions.

"It would be our preference to have a more stable and more predictable relationship with Russia. At the same time, we've been very clear that if Russia chooses to take reckless or aggressive action that target our interests or those of our allies and partners, we'll respond. Not for purposes of seeking conflict or escalating but because such challenges cannot be allowed to go forward with impunity," Blinken said.

As a response to Blinken's statement ahead of the meeting, Lavrov said Russia was hoping to engage in talks to promote a stable relationship with the U.S. but it has to show its willingness to do the same.

"Apparently, a (U.S.) decision was made to promote stable, predictable relations with Russia. However, if this includes constant and predictable sanctions, that's not what we need. Our attitude toward the U.S. includes the hope that normalized relations will be based on specific actions rather than words of which we have heard too many," Lavrov said.

Blinken said he hoped to convince Russia to cooperate on certain issues such as North Korea, climate change, Iran and the Middle East.