Criticizing international sanctions imposed after Russia's invasion of Ukraine, he said, "talking to Russia from a position of force is an exercise in futility."

If Putin meant to instill confidence in the health of the Russian economy among his listeners, he probably lessened the effect by practically begging Russians with assets overseas — even assets obtained through potentially illegal means — to bring their money home.

"I propose a full amnesty for capital returning to Russia," Putin said, according to an English translation of his remarks provided by the Kremlin. "I stress, full amnesty."

"It means," he continued, "that if a person legalizes his holdings and property in Russia, he will receive firm legal guarantees that he will not be summoned to various agencies, including law enforcement agencies, that they will not 'put the squeeze' on him, that he will not be asked about the sources of his capital and methods of its acquisition, that he will not be prosecuted or face administrative liability, and that he will not be questioned by the tax service or law enforcement agencies.