It was the highest-level face-to-face contact between the countries since Robert Mueller's report was released last month.
US President Donald Trump and Russian President Vladimir Putin (Picture: PA).
The United States and Russia have voiced hope that strained relations could begin to improve.
With tensions running high over Iran, Syria, Ukraine and Venezuela, Russian President Vladimir Putin claimed vindication from the investigation into Russia's interference in the 2016 US presidential election, and said he thought it was time to move on.
Meanwhile, US Secretary of State Mike Pompeo conveyed President Donald Trump's interest in restoring better ties.
In the highest-level face-to-face contact between the two countries since special counsel Robert Mueller's report was released last month, Mr Putin met Mr Pompeo at the Black Sea resort of Sochi.
Mr Putin's claim of vindication covered only allegations that Russia and the Trump campaign colluded to hurt Hillary Clinton's candidacy.
Mr Putin did not address Mr. Mueller's conclusion that Russia actively interfered in the election.
The Russian President said: "However exotic the work of special counsel Mueller was, I have to say that on the whole he has had a very objective investigation and he confirmed that there were no traces whatsoever of collusion between Russia and the incumbent administration, which we said was absolutely fake.
"As we said before there was no collusion from our government officials and it could not be there. Still, that was one of the reasons for the certain break in our inter-state ties," he added.
"I'm hoping today that the situation is changing."
Mr Pompeo did not specifically mention election meddling in his brief reply to Mr Putin, although he did say the Trump administration would "protect our nation's interest".
Earlier, though, Mr Pompeo made clear that any repeat of the 2016 meddling would not be tolerated.