Vladimir Putin issued a chilling warning to the West claiming he is now nearing “a point of no return”.
Putin has repeatedly threatened Western nations over the persistent support shown to Ukraine since the start of the invasion in February 2022.
But this week he ramped up his aggressive rhetoric, fuelling fears that the current conflict could evolve into World War 3.
Addressing Foreign Ministry officials on Friday, the Russian president said: “Calls to inflict a strategic defeat on Russia, which possesses the largest arsenal of nuclear weapons demonstrate the extreme recklessness of Western politicians.
“They either do not understand the scale of the threat they are creating – or are simply obsessed with their own sense of impunity and exceptionalism. Both can lead to tragedy.”
The Russian president also accused Western nations of theft as he savaged plans to offer Ukraine loans using interests from Russian assets frozen as part of international sanctions.
G7 leaders meeting in Italy have agreed on an outline deal this week to give Kyiv a $50 billion (£39 billion) loan drawn from Russian sovereign assets.
Putin said: “Despite all the chicanery, theft will certainly remain theft. And it will not go unpunished.
“Now it’s becoming obvious to all countries, companies and sovereign funds that their assets and reserves are far from safe in both legal and economic sense of the word.
“Anyone could be next in line for expropriation by the US and the West.”
During his speech, Putin also promised he would order a ceasefire “immediately” if Kyiv started withdrawing troops from the four regions annexed by Moscow in 2022 and renounced plans to join NATO.
Such a deal appears a nonstarter for Kyiv, which wants to join the military alliance and has demanded that Russia withdraw its troops from all of its territory. There was no immediate comment from Ukraine on Putin’s proposal.
Putin said his proposal is aimed at a “final resolution” of the conflict in Ukraine rather than “freezing it,” and stressed that the Kremlin is “ready to start negotiations without delay.”
Broader demands for peace that the Russian leader listed included Ukraine‘s non-nuclear status, restrictions on its military force and protection of the interests of the Russian-speaking population in the country.
All of these should become part of “fundamental international agreements,” and all Western sanctions against Russia should be lifted, Putin said.