President Putin warned new arms race

President Putin has warned that a new arms race is being unleashed on the world, but Russia must not allow itself to be drawn into it.

In a speech designed to highlight his eight-year legacy, Mr Putin said while Russia dismantled Soviet-era military bases, NATO was setting up bases close to Russia's border -- and the United States was planning missile defence systems in Central Europe.

He said there'd been no tangible steps on NATO's part to accommodate Moscow's concerns and find a compromise.

But Mr Putin said Russia will always respond to the challenges of a new arms race by developing more hi-tech weaponry.

Saturday, 9.February.2008