Russian crisis 'to last 2 years at most'

Russian President Vladimir Putin tried to quell fears on Thursday of economic collapse and vowed rapid recovery from the worst financial crisis of his rule but stressed that his position on Ukraine has not changed.

Speaking at an annual news conference, he said the economic downturn will last two years at most and promised to support the poorest section of the population.

However, he indicated that the economic gloom has not swayed his stance on Ukraine, accusing the West of behaving like an "empire" and even comparing Russia to a bear who is under attack and fighting for survival.