It was a gift. Kraft made a formal statement regarding it. They read it over the air on WEEI sports channel. Evidently Putin is a real big sports fan and was really floored with the ring. Kraft, who has ancestral roots in Russia, felt that giving the ring to him was the right thing to do and would be great gesture. Putin said that the ring will reside permanantly in the Kremlin.
It's usually cool gifts like this that make the most impact anyway. We all want toys for our birthday, not a new shirt or tie.
I remember Reagan did something like this years ago when the Soviets paid a formal visit to the US during his first term. He gave the premier a set of western, pearl handled revolvers. The guy had never rec'd anything like this before and absolutely loved it.