Vladimir Putin has likened Europe’s leaders to ‘robbers’ following a failed plan to use frozen Russian assets to help Ukraine’s war effort.
Speaking at his annual end of year conference, the Russian president boasted the EU’s plan fell through because they feared the ‘grave consequences’ of taking Russia‘s money.
Putin also told the nation he is ‘ready and willing’ for peace talks with Ukraine but doesn’t feel the Ukrainians are prepared and that Russian troops are close to making gains across the battlefield.
The backdrop of Putin’s speech shows a massive map of Russia which noticeably includes the outline of Crimea as well as four Ukrainian regions annexed in 2022; Donetsk, Luhansk, Zaporizhzhia and Kherson.
Follow the latest updates from Putin’s end of year press conference below:
Putin claims more than 400,000 joined Russia’s Army last year
Vladimir Putin has declared more than 400,000 people joined the Russian Army last year with bosses now holding a competition for those who want to join the military.
Speaking at his end of year conference, Putin said students were taking academic leave to become drone operators after Russia established a separate military branch dedicated to drone warfare.
He said:
Over 400,000 people joined the army… last year. The number of people who want to serve in the newly created type of military [using drones]… is such that the Ministry of Defence has to create a competition.
Putin claims Russia advancing along ‘entire’ battlefield in Ukraine
Putin also talked up the Russian Army by telling the nation the country’s troops were dvancing across the battlefield in Ukraine, voicing confidence that the Kremlin’s military goals would be achieved.
The President declared Russian forces have ‘fully seized strategic initiative’ and would make more gains by the year’s end.
He said:
Our troops are advancing along the entire line of contact… the enemy is retreating in all directions.
Earlier this week, Putin warned this week that Moscow would seek to extend its gains in Ukraine if Kyiv and its Western allies reject the Kremlin’s demands.
What Putin said on EU plan to use frozen Russian money
Vladimir Putin insisted any Russian money used by the EU would have to be repaid as he vowed to take leaders to court over plans to give his country’s assets to Ukraine.
The plan had been to use some of the £180.5 billion worth of Russian assets that are frozen in Europe, mostly in Belgium.
However, EU leaders failed to bridge differences with Belgium that would have allowed them to use frozen Russian assets to raise the funds.
Here’s a full translation of what Putin said on the EU plan:
It’s not easy to make decisions related to stealing other people’s money. But there are other, more serious consequences for those who try to do this. This is not just a blow to the image – it undermines trust in the eurozone in this case, because, of course, many countries, not just Russia, store their gold and foreign exchange reserves in the eurozone.
In addition to image losses, there may be direct losses related to the fundamental foundations of the modern financial world order. That’s why it’s not easy. And most importantly: no matter what they steal and how they do it, they will eventually have to give it back.
Putin sends Ukraine a message with set design
The set for Putin’s speech appeared to include some rather pointed messaging regarding contested territories at his press conference on Friday.
Hung up behind him as he delivers his address is a massive map of Russia, but at the far left-hand side, there is the outline of Crimea as well as all but four of the eastern Ukrainian regions which Russia annexed in 2022 – Donetsk, Luhansk, Zaporizhzhia and Kherson.
Russian forces are yet to conquer these territories in their entirety, but the Russian leader has claimed them as his own.
Putin signals no compromise on Ukraine
Putin said that Russia’s terms for ending the war in Ukraine were unchanged from those he laid out in June 2024, offering no sign of compromise as US President Donald Trump pushes hard for a settlement to the conflict.
The Russian leader said he did not see readiness on the Ukrainian side to agree a peace deal, but there were “certain signals” it was willing to engage in dialogue.
“The only thing I want to say is that we have always said this: we are ready and willing to end this conflict peacefully, based on the principles I outlined last June at the Russian Ministry of Foreign Affairs, and by addressing the root causes that led to this crisis,” Putin said.
Putin accuses EU leaders of ‘robbery’ amid plans to use frozen Russian assets
Commenting on a European Union decision to set aside a plan to use frozen Russian assets as backing for a loan to Ukraine, Putin called the attempted scheme ‘a robbery’ and promised that Moscow would defend its interests in the courts.
Speaking at his end-of-year press conference, Putin said that the EU plan had failed because there would have been ‘grave consequences for the robbers’.
Putin hails Ukraine gains
Putin has hailed his army’s progress in Ukraine, saying: ‘Our troops are advancing along the entire line of contact… the enemy is retreating in all directions.’
‘I’m sure that before the end of this year we will still witness new successes’, he added.
Earlier this week, Putin that Moscow would seek to extend its gains in Ukraine if Kyiv and its Western allies reject the Kremlin’s demands.
Putin – Ukraine isn’t ready for peace talks
Vladimir Putin has told Russia he does not believe Ukraine is ready for peace talks.
He said Russia was ‘ready and willing’ to end the conflict in Ukraine peacefully, based on principles he said he had set out at the Foreign Ministry in 2024.
The annual news conference is combined with a nationwide call-in show that offers Russians across the country the opportunity to ask questions of Putin, who has led the country for 25 years.
Putin has used it to cement his power and air his views on domestic and global affairs.
This year, observers are watching for Putin’s remarks on Ukraine and the US-backed peace plan.
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