The Russian president was due to discuss the murder of journalist Jamal Khashoggi with Saudi Crown Prince Mohammed bin Salman.
They are in Buenos Aires, Argentina, for a summit with G20 leaders.
Jamal Khashoggi was killed at the Saudi Arabian consulate in Istanbul on 2 October.
Canada, France, the US and Germany have imposed targeted sanctions related to the murder of the prominent Saudi journalist.
Putin and Saudi crown prince high five