Vladimir Putin has accused the West of exaggerating the threat Russia poses to the world to justify increased military spending.

Addressing an audience of foreign policy experts, the Russian President said: "It's very pleasant and profitable to make yourself out to be defendants of civilisation from some new barbarians, but the thing is Russia doesn't plan to attack anyone."

He said the idea was "unthinkable - simply stupid and unrealistic".

Mr Putin also slammed as "hysteria" claims that Russia has attempted to interfere in the upcoming US presidential elections by hacking American political institutions.

"The number of mythical, dreamt-up problems includes the hysteria - I can't think of another word - that has broken out in the United States about the influence of Russia on the current elections for the US President," he said.


"Does anyone seriously think Russia can somehow influence the choice of the US people? Is the US some kind of banana republic? The United States is a great power. Please correct me if I'm wrong,"

US and UK consider sanctions against Syria and Russia

The US government has formally accused the Russian government of trying to "interfere" in the 2016 White House race by hacking US political institutions.

The Kremlin has repeatedly dismissed the allegations.

Mr Putin has said the accusation is meant to divert American voters from serious domestic problems such as the country's national debt and gun control.

"It's a lot easier to distract people's attention towards Russia's so-called hackers, spies, agents of influence and so on," he said.

Mr Putin also took a jab at the West for its "mistakes" in its military interventions in Iraq, Libya, Afghanistan and now, Syria.

"The fight against terrorism has not yielded a global result while the threats are only growing," he said, adding that Russia's calls to unite forces against terrorism have been ignored.

He pointed said he blamed the US for the ongoing conflict in Syria, saying that "stopping bloodshed and launching a political process (in Syria) has not been possible".

Meanwhile, a convoy of Russian warships, headed by aircraft carrier Admiral Kuznetsov, continues to sail towards the eastern Mediterranean.

Moscow has said it is "absurd" to think it is being sent to carry out military operations in Syria, but has not offered any reason for the fleet's journey.