An Open Book: Putin's Annual Press Conference

This was President Putin’s tenth “Big” end of year press conference. The timing of the event made it a de-facto review of the year’s developments as seen from the Kremlin. Given this year’s dramatic events in Ukraine, the Middle East, the slump in oil prices and the pressure on the rouble, this presser generated huge interest even before its start.

Over 1,200 journalists from Russia and around the world attended the event, and there were no restrictions on the questions they could ask the Russian president.

Vladimir Putin's presser will be most remembered for the analogy he made about the bear and the international situation, says Neil Clark, a UK-based journalist and broadcaster who specialises in eastern European affairs.

Despite falling oil prices and Western sanctions the economic side of Putin’s speech was very promising, best-selling author and economic advisor Patrick L. Young told Radio Sputnik.

07:20 ET: President Putin ends annual press conference, wishes everyone a Happy New Year

07:19 ET: Wall Street Journal reporter asks President if he feels responsible for the current economic slump in Russia. 

07:18 ET: Putin says it's far too early to talk about who will run for office in 2018

07:15 ET: Three hours in, some start complaining about the pressure of attending a press conference.

07:08 ET: While many debate whether Putin does or does not remember his salary, or that of his colleagues, the Russian President says that Iran's nuclear program is close to being resoved

06:59 ET: Putin says Sechin is "doing a good job"

06:58 ET: Charged question from a regional journalist. 

06:47 ET: Journalist from Kaliningrad: "Our European neighbors think we're going to attack them." Putin: "Are you?"

06:44 ET: In the meantime, news agencies report the European Union has just approved new 'anti-Crimea' sanctions, including travel restrictions 

06:39 ET: Meanwhile, AFK Systema shares are up 70 percent following a question by Financial Times' Courtney Weaver

06:37 ET: Russian President talks about ties with Georgia, says that in 2008, he urged then-President Mikhail Saakashvili not to start hostilities

06:29 ET: Putin talks about strong ties with China, press corps gets very excited 

06:23 ET: Kirov Kvass Man wanted to share his creations with the President, but was apparently prevented from doing that by security

06:19 ET: As a man from Kirov asks Putin how to secure a market segment for his local fermented bread drinks (aka kvass), some cannot let go of the intrigue surrounding the President's personal life

06:13 ET: The next question appears to have the journalists attending sit up and take notice. Hint: its NOT about politics

06:04 ET: "Our Ministry of Defense budget for next year increased but the budget is $50 billion, and the Pentagon's budget is 10 times bigger" — Putin

06:03 ET: Putin says Russia wants to and will work together with its Western partners on all key matters of international agenda, IF Russia's partners want to work with it

06:02 ET: John Simpson of the BBC asks Putin if he wants a new Cold War. 

05:56 ET: While Putin talks to First Arctic TV Channel from Siberia, a lot of the journalists present at the conference find themselves straying to the apparently riveting Twitter account of the Azeri President. 

05:50 ET: Is Putin worried about a potential coup in Russia? Apparently not, because…

05:47 ET: Putin says there are no political campaigns against the opposition, and there never will be

05:39 ET: Prominent journalist and activist Xenia Sobchak asks Putin about the situation in Chechnya. Russian President says "We have laws but life — it's more complicated and varied." But adds laws must be followed.

05:29 ET: Presidential ambitions? 

05:21 ET: Crowd laughs at tongue-in-cheek question of whether Putin regrets pardoning Mikhail Khodorkovsky, who is politically active again. Twitter users reach for popcorn

05:18 ET: Putin says very thin line between opposition members and the so-called '5th Column'

05:05 ET: But some seem to be confused as to what effect it will have on the Russian economy, what to do with diversification and the idea that the two concepts can co-exist

05:02 ET: Pivot to the East is an economic decision, not a political one, says Russian President

05:00 ET: Putin says prisoners on both sides in Ukrainian conflict should be released so they can join their families for the holiday season

04:57 ET: Cup choice still intriguing many

04:55 ET: "I have no doubt [Ukrainian President] Poroshenko wants the crisis resolved", says Putin, suggests other forces in Kiev are in play

04:52 ET: Bear metaphor gets Twitter users posting

04:50 ET: Putin uses lengthy metaphor to compare Russia to a bear that the West is trying to put on a chain

04:47 ET: "What is happening in eastern Ukraine is a punitive operation launched by Kiev" — Putin

04:43 ET: Ukrainian journalist asks Vladimir Putin about number of soldiers sent to Ukraine

04:41 ET: Putin says NATO has built up walls, not Russia

04:36 ET: "We all need to work more", says Putin. But some journalists seem to be more interested in a different type of content 

04:32 ET: Interest rates will come down sooner rather than later, says the Russian President 

04:30 ET: Putin says the current economic situation could continue for approximately two years, but may improve faster

04:28 ET: Putin says Russia has sufficient currency reserves, the ruble will recover

04:24 ET: Putin expects Russian economy to adjust itself to low oil prices, calls for diversification

04:22 ET: Putin predicts surplus of Russia's budget at 0.2% GDP for 2014

04:21 ET: Russia's CB and government are taking adequate measures over current economic problems — Putin

04:18 ET: President Putin says Russian economic problems have been provoked by external factors

04:14 ET: Putin sees demographic increase as one of the positive results of 2014

04:12 ET: The press conference kicks off