Although all we can do is speculate as to what the president is meeting with Putin about when it comes to good relations (as many other presidential cannidates have wanted to do), it may have to do with something that occurred some months ago. As he told Russian President Medvedev, "
After my election I'll have more flexibility"
Many were acting as if it meant some conspiracy that Obama was hiding something..but I'm not really thinking it'd be wise to assume that there's some sort of conspiracy as if President Obama is going to somehow be radical since his stances consistently have often leaned toward moderation in many respects.
In regards to what he was talking to President Medvedev was speaking with President Obama on, it was in regards to Space/Missile defense.
For the full dialouge:
President Obama: On all these issues, but particularly missile defense, this, this can be solved but its important for him to give me space.
President Medvedev: Yeah, I understand. I understand your message about space. Space for you
President Obama: This is my last election. After my election I have more flexibility.
President Medvedev: I understand. I will transmit this information to Vladimir.
When asked to explain what President Obama meant, deputy national security adviser for strategic communications Ben Rhodes told ABC News that there is room for the U.S. and Russia to reach an accommodation, but there is a lot of rhetoric around this issue there always is in both countries.
A senior administration official told ABC News this is a political year in which the Russians just had an election, were about to have a presidential and congressional elections this is not the kind of year in which were going to resolve incredibly complicated issue like this. So theres an advantage to pulling back and letting the technical experts work on this as the president has been saying.
For anyone thinking he was speaking in "code" to mean that he as a U.S President is going to be extremely radical/"come out" about any of his views, I think people would be reading into things FAR more than warranted.