"Russia has never sought confrontation".
Putin said in the meeting, "It's a matter of great regret that relations between Russian Federation and USA are not in the best of shape".
"Even in earlier days, when our countries had differences, our leaders and their advisers met", he said.
"But I think a lot of good things can come with meetings with people". "The president's been unambiguous since he took office that there are places where Russian Federation is working against the United States, but many places where we work together", Pompeo told MSNBC last week.
The Austrian capital Vienna had also been previously mentioned as a venue, though the United States official suggested that option had now been largely ruled out.
The president said the meeting could possibly take place in the Finnish capital, Helsinki.
Putin aide Yuri Ushakov told reporters that the summit is expected to take place mid-day and will last "several hours".
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Putin-Bolton meeting has started in Kremlin.
Mr Lavrov has said previously that Moscow "is ready for contacts" with the US.
"Your visit to Moscow raises hopes that we may make the first steps in the restoration of fully-fledged relations between our governments", Mr Putin said.
Ushakov said the subject of U.S. sanctions on Russian Federation had not come up on Wednesday and named four main summit themes: strategic nuclear stability, the fight against worldwide terrorism, regional issues like the Ukraine and Syria conflicts, and U.S. -Russia ties. "A very convenient place for us and the American side has been selected in a third country".
Trump on Wednesday listed Syria and Ukraine among the many subjects he said they would discuss at the summit.
The United States and Russian Federation are at odds over several worldwide issues, including Russia's annexation of Crimea, the ongoing civil war in Syria, and Russia's support for America's adversaries, to name a few.
Bolton was equally coy about the summit's agenda. Congress has continuously pushed for more sanctions on Russian Federation and Kremlin-linked individuals in response to Russia's interference beyond its borders, despite President Donald Trump's evident lack of enthusiasm for these measures.