Putin, who has been cold-shouldered by the United States and its allies since the March seizure of the peninsula, met Cameron in Paris today ahead of talks later with French President Francois Hollande.
The Russian leader's return to the international centre stage, ahead of tomorrow's D-Day anniversary ceremony in Normandy, came on a day when Ukraine's government admitted it had lost control of part of its eastern border to pro-Russian separatists that the West suspects are being actively backed by Moscow.
"This was a meeting with a very clear and firm set of messages, which is that there is an opportunity for a successful, peaceful and stable Ukraine especially now there's been a presidential election," Cameron told the BBC.
"But the status quo, the situation today, is not acceptable and it needs to change."
"Russia needs to properly recognise and work with this new president. We need de-escalation. We need to stop arms and people crossing the border. We need action on these fronts but if that happens there is a diplomatic path that is open to have proper relations between Ukraine and Russia and a successful future for the people of Ukraine, which is what they deserve."
"I have no doubt that I'll see Mr Putin," Obama said. "Should we have the opportunity to talk, I'll deliver the same message as I have throughout this crisis.
"If Russia's provocations continue, it's clear from our discussions here the G7 nations are ready to impose additional costs.
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