Russian President Vladimir Putin attends his annual end-of-year news conference on December 19, 2025. (Photo via Reuters)

Russia`s President Vladimir Putin has stressed that the success of talks aimed to end the war in Ukraine hinges on the West and Kiev.

During his annual end-of-year press conference on Friday, Putin said that Russia "did not start this war" and is not "responsible for the loss of life".

He went on to say that the conflict in Ukraine began with a coup in Kiev in 2014.

"I will remind everyone how it all began. It began with the coup in Ukraine in 2014 and with the deception regarding the possibility of resolving all issues peacefully through the Minsk agreements."

The Russian leader stated that his country is ready to negotiate and to end the conflict in Ukraine by peaceful means, emphasizing that Kiev and its Western supporters are responsible for achieving progress in the settlement talks.

"The ball is now fully and completely on the side of our Western opponents... first of all the head of the Kiev regime and their European sponsors," Putin said, noting that Moscow had agreed to "some compromises".

While he stated that Russia is aware that Ukraine is ready for some kind of dialogue, Putin noted that Moscow does not see Kiev`s readiness to discuss the territorial issue yet.

Elsewhere in his remarks, Putin noted that the West is fighting Russia "through the hands of Ukrainian nationalists," stressing that cooperation will benefit both Russia and the West.

"If we joined forces with European countries, Russia and Europe, our combined GDP at purchasing power parity would surpass that of the United States. By combining and complementing our capabilities, we would thrive, not fight with each other," he said.

He warned that Europe will gradually disappear if it does not cooperate with Moscow.

Reiterating that Russia would like "to live in peace and without any military conflicts" in 2026, Putin stressed that Moscow must eliminate the root causes of the conflict in Ukraine so that nothing like this happens again.

He slammed the West`s calls for the preparation for war with Russia as nonsense, adding that Western countries are trying to cover up their internal mistakes by hiding behind Russia.

In a message to the West, Putin stressed that Russia would not attack other countries, as long as it was treated "with respect".

Meanwhile, he warned the European Union of "serious" consequences if EU powers seize Russia`s assets, pledging to defend the nation`s interests, primarily through legal channels.

He said seizing these assets and using them as collateral for loans to Ukraine would undermine Europe`s economic reputation and shatter global confidence in the eurozone.

Numerous countries, he said, have already cast serious doubts about the safety of their assets in Europe.

European Union leaders have struck a late-night deal to lend Ukraine €90bn ($105bn) over the next two years, after failing to approve a plan on using frozen Russian assets.