Russian President Vladimir Putin offered no compromise on his terms for ending the war in Ukraine on Monday and accused the European Union (EU) of attempting "daylight robbery" of Russian assets, Reuters reported.
As US President Donald Trump seeks to end Europe's deadliest conflict since World War II, Putin said it was up to Ukraine and Europe to take the next step towards peace.
"President Trump is making serious efforts to end this conflict. He is doing so completely sincerely. The ball is completely in the court of our Western opponents, primarily the leaders of the Kiev regime, and in this case primarily their European sponsors. We are ready for both negotiations and a peaceful resolution of the conflict," Putin said.
Trump is pushing for a peace deal on terms that Ukraine and its European allies fear would be favorable to Russia. Kiev has long called for a ceasefire and has said it does not believe Putin, who sent tens of thousands of troops into Ukraine in February 2022, is serious about seeking peace.
Putin holds marathon press conference
Putin addressed the annual press conference and the "Direct Line" show, which lasted almost four and a half hours. Although Ukraine was the dominant topic, the event was also marked by bizarre moments, as well as occasional sharp comments from ordinary Russians whose text messages were displayed on a large screen in the hall.
"It's not a direct line, it's a circus," read one message. Others complained about internet outages, dirty tap water and the cost of living.
Putin said that Russia's conditions for ending the war in Ukraine are those he outlined in a speech in June 2024, when he demanded that Ukraine abandon its ambition to join NATO and completely withdraw from four regions that Russia considers its territory.
Kiev says it will not cede territories that Russian forces have failed to conquer in almost four years of war.
A Ukrainian official said on Monday that Ukraine had attacked a Russian oil tanker from its so-called "shadow fleet" in the Mediterranean Sea for the first time, using aerial drones, reflecting the growing intensity of Kiev's attacks on Russian oil shipping.
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Putin claims that Ukrainian President Volodymyr Zelensky is an illegitimate leader. Zelensky's term expired last year, but Ukraine, which is under a state of war while fighting Russian forces, cannot hold new elections under the constitution.
If the elections were held, Putin said, Russia would be prepared to consider halting strikes deep inside Ukraine while the vote was taking place. He added that the five to ten million Ukrainians living in Russia should be eligible to participate.
EU loan to Ukraine
Putin spoke hours after EU leaders shelved a plan to use frozen Russian assets as collateral for a loan to Ukraine, opting instead for borrowing to help finance Kiev's defense against Russia for the next two years.
EU leaders have said they reserve the right to use Russian assets to repay loans if Moscow fails to pay war reparations to Ukraine.
Putin said the EU abandoned the original plan because it would have faced serious consequences, and that it had thereby undermined its status as a safe haven for storing assets.
"Theft is not the right term... It's a robbery in broad daylight. Why can't that robbery be carried out? Because the consequences could be severe for the robbers," he said.
Technical problems in transmission
The Kremlin said it had received more than 2,6 million questions in advance for Putin's press conference. The event is being billed as a demonstration of his openness to answering questions on any topic.
The 73-year-old Russian president, who is divorced, answered yes when asked if he was in love, but declined to go into details. He told a boy that he sometimes drives around Moscow incognito to understand what's going on in Russia.
At one point, Putin gave the floor to Naran-Ochir Goryaev, a decorated Hero of Russia, who described his participation in the Russian assault on the Ukrainian city of Siversk.
Putin apologized to the widow of a soldier killed in combat after she said her family had not yet received the compensation they were due. State media later reported that the money had been paid.
Ukraine says Russia's territorial gains are minimal and have come at huge costs. It says it is putting up resistance in locations such as Kupyansk in the northeast, which Russia said it had captured last month.
Putin said the sharp slowdown in Russian economic growth – to one percent this year from 4,3 percent in 2024 – was the result of conscious moves by the central bank to bring down inflation.
During its press conference, the bank announced that it was lowering its key interest rate by half a percentage point, to 16%.
Claims that the Russian army is advancing through Ukraine
Putin, as reported by the Beta agency, also stated that the Russian army is "advancing through Ukraine" and that military objectives will be achieved.
Putin, speaking at his traditional annual press conference, said that the Russian military had "fully seized the strategic initiative," adding that it would "have more victories by the end of the year."
Putin's annual live press conference is combined with a phone-in show that offers Russians across the country the opportunity to ask him questions.
Putin: Russia has ideas for NIS, dialogue with friends in Serbia ongoing
Putin also stated that Russia "has ideas" on how and in what direction the issue of the Oil Industry of Serbia (NIS) could be resolved and that dialogue with Serbia is ongoing, the Russian agency TASS reported, and the Beta agency reported.
"We have ideas about how, in what way and in what direction we could move forward together. And such a dialogue is underway with our friends in Serbia. We hope that we will find the right solution," Putin said. At a special press conference, which is held at the end of each year, he stated that Russia assumes that the "friendly leadership of Serbia" will fulfill its obligations towards NIS.
"We have an intergovernmental agreement with Serbia regarding the adoption of any restrictions regarding this commercial entity. And, of course, we assume that the friendly leadership of Serbia will keep this in mind and fulfill its obligations. Otherwise, the question arises: how can we invest money in the country's economy and where are the security guarantees if even intergovernmental agreements do not function," Putin said.
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