The U.K. newspaper said Trump and his team told British officials that their first foreign trip would be a summit in Iceland with Putin within weeks of his inauguration.

The plan is likely a nod to Ronald Reagan's Cold War visit in Reykjavik with Mikhail Gorbachev, the newspaper noted.

Incoming White House press secretary Sean Spicer called the report "100 percent false" on Twitter.  

The Times has reported that Trump wants to discuss nuclear disarmament with Putin, citing sources who said Trump wants to meet Putin outside of Russia and that Reykjavik was a strong contender.

The meeting had not been announced by Trump team officials or Russian officials, and reports say Iceland has not been formally contacted about such an event.

Trump's relationship with Putin has been the subject of controversy following U.S. intelligence reports that Russia interfered in the election to help the businessman.