Putin calls Trump's suggestion to cut defence budget in half a 'good proposal'

Russian President Vladimir Putin called US President Donald Trump's suggestion of cutting defence budgets in half a "good proposal". He said Russia was "ready for a discussion" after Trump said that it should reduce its defence budget along with the US and China.

"I think it's a good idea. The US would cut by 50 percent and we would cut by 50 percent and then China would join if it wanted," Putin said in a TV interview.

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Since it began a war with Ukraine, Russia has significantly increased its military spending - which has fueled economic growth but also inflation in the country. Putin said that the spending on defence and security would rise as high as 8.7 per cent of GDP this year.

He said he was ready for the negotiations with the US regarding the suggestion.

"We could come to an agreement with the US (on cutting spending), we're not against it," he said. "We think it's a good proposal and we are ready for a discussion about this," Putin added.

'I see nothing wrong'

The Russian president further addressed the role of the European nations in the potential peace talks for Ukraine. He said that despite all the reluctance, the participation of these nations was "in demand".

When he was asked about the European involvement, Putin said, "I see nothing wrong with this."

"Well, probably no one can demand anything here. Especially not from Russia." However, he added, "If they want to come back, they're welcome," he added.

He even claimed that the European countries "themselves" have rejected any contact with Russia believing that Ukraine would mark its victory.

"We are grateful to all our partners who raise these questions, who aim for peace to be achieved. And that's why I'm saying that not only Europeans but other countries have the right and can take part. And we view this calmly," Putin further said.

(With inputs from agencies)