Russia will abandon a centerpiece nuclear arms treaty with the US, promising it will only deploy intermediate-range nuclear missiles if Washington does first.

It comes a day after President Donald Trump accused Moscow of violating the 1987 Intermediate-Range Nuclear Forces treaty with "impunity" by deploying banned missiles.

Mr Trump said in a statement that the US will "move forward" with developing its own military response options to Russia's new land-based cruise missiles that could target Western Europe.

Moscow has strongly denied any breaches and accused Washington of making false accusations in order to justify its pullout. (AP)

Moscow has strongly denied any breaches and accused Washington of making false accusations in order to justify its pullout.

The collapse of the INF Treaty has raised fears of a repeat of a Cold War showdown in the 1980s, when the US and the Soviet Union both deployed intermediate-range missiles on the continent.

Such weapons were seen as particularly destabilising as they only take a few minutes to reach their targets, leaving no time for decision-makers and raising the likelihood of a global nuclear conflict over a false launch warning.

Following in the footsteps of the US, Russia will abandon a centerpiece nuclear arms treaty but will only deploy intermediate-range nuclear missiles if Washington does so. (AP)

After the US gave notice of its intention to withdraw from the treaty in six months, Mr Putin said Russia would do the same.

He ordered the development of new land-based intermediate-range weapons, but emphasized that Russia won't deploy them in the European part of the country or elsewhere unless the US does so.

"We will respond quid pro quo," Mr Putin said.

"Our American partners have announced they were suspending their participation in the treaty, and we will do the same.

Mr Trump said in a statement that the US will "move forward" with developing its own military response options to Russia's new land-based cruise missiles that could target Western Europe. (AAP)

“They have announced they will conduct research and development, and we will act accordingly."