The truce officially started at midnight today but surging fighting in the runup to the ceasefire has already cast doubt on whether it will be respected.
"The president spoke with Ukrainian President Poroshenko today (Saturday) to express his sympathy for the mounting toll of the conflict in eastern Ukraine and his deep concern about the ongoing violence, particularly in and around Debaltseve," a White House statement said.
Earlier, Kiev-loyal regional police chief Vyacheslav Abroskin said constant artillery bombardments were razing the strategic railway hub of Debaltseve, where Ukrainian forces were hanging on.
"Both leaders stressed the importance of establishing a lasting peace that respects Ukraine's sovereignty and unity."
Obama also welcomed a deal reached with the International Monetary Fund that provides for "an ambitious package of reforms that will help to stabilize Ukraine's economy and lay the groundwork for growth and prosperity."
The US president yesterday separately spoke by phone with German Chancellor Angela Merkel, who has played a critical role in peace negotiations.
Under the terms of the ceasefire deal, inked Thursday after marathon talks in Minsk between the leaders of Ukraine, Russia, Germany and France, the two warring sides have two days from the start of the truce to start pulling back heavy weapons from the front line.
The last-ditch peace plan is seen as the best hope of ending the violence that has claimed at least 5,480 lives since April but skepticism remains high after the collapse of a similar previous deal.
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