"I would like to say - there's no need to be afraid of Russia," Putin told Italian newspaper Corriere della Sera in an interview published today, ruling out a major conflict between Russia and NATO member countries.
"The world has changed so much that people in their right mind cannot imagine such a large-scale military conflict today."
"We have other things to do, I can assure you," the Russian president said.
The Russian president spoke ahead of his visit to Italy next week that will include a meeting with Pope Francis.
Putin's interview was released by the Kremlin just as Group of Seven leaders are gearing up to meet in the Bavarian Alps for a summit this weekend without Russia.
In the interview, Putin stressed that Russia merely sought to defend itself from outside threats.
He pointed out that NATO members have defence expenditures that are 10 times Russia's military spending, adding that the US military budget was the biggest in the world.
"We have made significant progress in this direction," he added, without providing further details.
Russia's annexation of Crimea from Ukraine last year has jangled nerves in Europe, with Baltic and Nordic countries reporting an uptick in Russian military activity over the past year.
Pentagon officials said yesterday that the United States was considering a range of moves to beef up security, including bolstering missile defences or even deploying land-based missiles in Europe.
Speaking about the Ukraine crisis, Putin accused Kiev authorities of being unwilling to implement a European-brokered peace deal agreed in February in Minsk and enter into dialogue with pro-Moscow rebels.
"We would like these agreements to be implemented," Putin said, stressing that Kiev should ensure autonomy for rebel-held territories and implement a law on municipal elections and on amnesty.
"The leaders of the self-proclaimed republics have publicly said that under certain conditions -- that is the implementation of these Minsk agreements -- they are ready to consider the possibility of considering themselves part of Ukraine.
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