Putin: Russia to work to improve US ties

Vladimir Putin (L) has invited Donald Trump (R) to visit Moscow in May 2020. (AAP)

Russia's Vladimir Putin, on the sidelines of the G20, says Moscow will do all it can to improve relations with the US after years of diplomatic conflicts.

Russian President Vladimir Putin says Moscow will do all it can to improve relations with the United States, strained by years of diplomatic conflicts over Ukraine and alleged Russian meddling in US elections.

Putin was speaking at the G20 summit in Osaka where he met US President Donald Trump to discuss issues ranging from trade to disarmament. He also invited Trump to visit Moscow in May next year.

Trump, for his part, said he'd give "very serious consideration" to the offer, for the 75th anniversary of the Nazi defeat.

Putin described the talks as a "good meeting, business-like, pragmatic" and said the two leaders agreed bilateral economic ties required improvement.

"I think we both understand that we need to somehow resolve the current situation," Putin said on Saturday, adding the two nations needed to "somehow find the strength to turn the page and move forward."

Asked during a news conference at the summit about the probability of more US sanctions against Russia, Putin said it was up to Washington to decide how best to build relations with Moscow.

Putin said he and Trump had discussed the election meddling allegations and the situation in Venezuela but provided no details.

Trump said he warned Putin about additional interference in the 2020 poll.

Trump joked with Putin about the matter when they met Friday on the margins of a summit in Japan. Asked Saturday about his demeanour, Trump told reporters to "take a look at the words ... I did say it."

Trump has been criticised for appearing unconcerned by Russian meddling in the 2016 election. Federal investigators recently found extensive interference by Russia in the election, which Trump won.

Trump bristles at suggestions that he was elected with foreign help.

He has previously accepted Putin's denials of meddling, and noted again on Saturday that "he denies it totally."

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