"All NATO countries are fighting us, and they're no longer hiding it," he said. "Unfortunately, there are instructors (in Ukraine), and they're actually taking part in combat operations. A centre was created specifically in Europe, and it essentially supports everything the Ukrainian armed forces do. It feeds information, transmits intelligence from space, and supplies weapons and gives training."

"The ruling elites of united Europe continue to whip up hysteria. It turns out that war with the Russians is practically on the doorstep. They repeat this nonsense, this mantra, over and over again," he continued. "They can't believe what they're saying, that Russia is going to attack NATO?... They're either incredibly incompetent if they truly believe it, because it's impossible to believe this nonsense, or they're simply dishonest." Earlier on Thursday it was widely reported that the White House has authorized intelligence assistance to striking long-range targets inside Ukraine.

"We simply cannot ignore what is happening. We have no right to do so for reasons of our own security. I repeat, our defense and safety. Therefore, we are closely monitoring the escalating militarization of Europe." He made clear that it's absurd to believe that Russia is looking to attack NATO. This had been frequently repeated by the Kremlin throughout the summer.

Putin said further: "Are these just empty words, or is it time for us to take countermeasures? ... Germany, for example, says that the German army should be the most powerful in Europe. Good. We listen carefully, understanding what is meant."

"I think no one doubts that such measures will force Russia to act, and Russia's countermeasures will not be long in coming. It seems (to me) that the response to these threats will be, to put it mildly, very convincing."

As for the United States and the potential for an improvement in bilateral relations, this was the one bright spot in the Valdai address: 

"The current White House administration states its interests and desires directly ... and bluntly, but without any unnecessary hypocrisy."

"We see that the current U.S. administration is guided primarily by its own interests, as it understands them. I believe this is a rational approach. But then, if you will excuse me, Russia also reserves the right to be guided by its national interests. One of which, incidentally, is the restoration of full-fledged relations with the U.S."

And so Putin appeared to lay the bulk of the blame on Europe and its efforts to support Ukraine at all costs while pursuing irresponsible and dangerous confrontation.