More likely Obummer cancelled it because he knows what a wimp he is, especially in comparison to Putin; a man who is not testicularly challenged; who is not a metrosexual wuss. The risk of once again being publicly humiliated and shown as impotent by an unimpressed Putin was too great.
Putin knows all about BO’s background. Barry is probably afraid of Putin and will use any excuse to get out of having to meet with him.