Russian President Vladimir is vowing his country will remain open to the world and to foreign investment.
At the same time, Putin says Russia will never pursue a path of self-isolation, xenophobia, suspicion or search for enemies.
Putin has made the comments as part of his annual state of the union speech.
But in making the statements, he's also warned the US that any creation of an anti-ballistic missile shield in Europe will prove harmful for the US.
Putin has also addressed the current round of sanctions Russia is under.
"So-called sanctions and external restrictions are a stimulus for the more effective and speedy achievement of our goals. We have many things to do."
He is also promising an amnesty for capital repatriated to the country, saying that Russians who choose to bring money back won't face any questions as to how they came about it.
As with previous speeches of this nature, many in Russia appear to be supportive of Putin's objectives.
"Of course we will be fine. I really want to believe in it. We have always managed to get through everything and we will manage further."
Putin's popularity remains high in Russia, despite the current economic decline.
