Seen by some as a sign of a possible thaw in relations between Russia and the EU, Russian president Vladimir Putin greeted his European Commission counterpart on the sidelines of the annual Saint Petersburg International Economic Forum.
Jean-Claude Juncker joined business and political delegates returning to the annual investment event.
He is the highest-ranking European Union official to visit Russia in the two years since the EU and United States imposed sanctions on Russian individuals and businesses.
In a face-to-face meeting, Mr Juncker said it is time for the two sides to address the divisions between them.
"Of course, not everyone in Europe agreed with this idea, but I liked it, because we have to meet and talk in moments when there are problems between us. I would like to exchange views with the same sincerity, with the same open approach, as it has been done during many years. And I would like to sincerely thank you for the very warm welcome that we have received here. We have something to say to each other, but it is especially necessary to be heard."
Jean-Claude Juncker used his presence at the forum to urge Russian cooperation in the peace process in neighbouring Ukraine.
He says Russia's annexation of the Crimean peninsula and the conflict in and around eastern Ukraine put relations between the EU and Russia to a severe test.
Referring to allegations of Russia providing support for separatist rebels in Ukraine, Mr Juncker said its actions had shaken the very principles of the European security order.
Nafez Zouk, from Oxford Economics, a forecasting branch of Oxford University's business college in Britain, has told the BBC the resulting sanctions are having an impact.
"Russia's been in recession for over a year. We estimate that the sanctions probably added about a percentage point on that recession from the 3.7 (per cent) decline that happened last year. More importantly, the sanctions will have more of a negative effect going forward. The sanctions are placed on financial institutions and technology transfers and the oil sector, and those are the three things that Russia needs to get out of recession and to grow."
Russia, in response, has banned the importation of meat, vegetables and other EU products.
Producers have felt the impact of that move, prompting some European countries to call for the sanctions to end.
There was no talk of that in Saint Petersburg, but the European Commission president made it clear a return to the so-called Minsk Protocol could lead to them being eased.
That agreement called for a halt to the war in the Donbass region of Ukraine in 2014.
Nafez Zouk says even a partial implementation of the deal to end the war in eastern Ukraine would bring economic relief to Russia and the EU.
"It hasn't been implemented by either side for many reasons. And in the event of a stalemate, I think it would be in both sides' interest -- and this is what they're starting to realise -- that there could be a shifting of those goalposts so that a gradual easing of some components of those sanctions are rewarded with a gradual implementation of some components of the agreement." Asked about the timeframe, he replied, "Nothing before the beginning or middle of next year."
Vladimir Putin also met with the outgoing United Nations Secretary-General, Ban Ki Moon.
Mr Ban earlier told the forum the Russian Federation has a very important role to play on international issues, including the Sustainable Development Goals and climate change.
He thanked Mr Putin for his country's efforts.
"For me, it has been a great privilege and asset, a political asset, to have worked with Russia, Russian diplomats and particularly yourself as the president. And as permanent members of the Security Council and a strong supporter of international peace and security, you devoted a great deal, and I will always cherish this support which you have given me."
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