"We are ready for practical cooperation with American partners along various directions guided by the principles of respect for each other's interests, equal rights and non-interference into domestic affairs," Putin said.
He spoke at the Kremlin where Tefft, Washington's new ambassador to Russia, presented his letter of credence along with envoys from several other countries including North Korea.
Tefft -- known for backing the pro-Western aspirations of former Soviet states -- succeeded Michael McFaul, who abruptly quit his post in February after just two years on the job.
His predecessor McFaul, a Stanford university professor, frequently sparked Russia's fury with critical comments on Twitter and meetings with Russian opposition activists.
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Cold War-era rivals Russia and the United States are locked in a tug-of-war over the fate of ex-Soviet republic Ukraine, with Washington imposing sanctions and US President Barack Obama branding Moscow's actions over Ukraine a "threat to the world".
Meeting with his supporters yesterday, Putin claimed the United States wanted to subjugate Russia but would never succeed.
"No one in history ever managed to do this to Russia, and no one ever will."
In a fresh sign of mounting Russia-West tensions, Putin at the weekend faced scorn from Western leaders at a G20 summit in Australia which he left early.
In unusually blunt remarks on Monday, German Chancellor Angela Merkel said Russia's aggression against Ukraine threatened Europe's "peaceful order".
In an apparent effort to calm tensions, Putin said yesterday no one in the West wanted to see an escalation.
"No one wants to ramp up tensions in the world, trust me, and they in the United States do not want this really, I mean the general public, citizens. So everything will sort itself out," he said.
Putin said that developing political and economic ties between Russia and North Korea was in the interests of the two countries and would strengthen "regional security and stability".
The United Nations yesterday adopted a landmark resolution condemning North Korean rights abuses and laying the groundwork for putting the Pyongyang regime in the dock for crimes against humanity.