The annual event gives ordinary Russians a chance to question their leader, with queries focused on an end to the Ukraine war and boosting the economy.

Follow live updates from NBC News as Russian President Vladimir Putin speaks at his annual year-end news conference on Ukraine, peace, war and Trump.

President Vladimir Putin offered no compromise on his terms for ending the war in Ukraine on Friday and accused the European Union of attempting "daylight robbery" of Russian assets.

Russian President Vladimir Putin’s end-of-year Q&A session is likely to send a signal to the United States and European powers over his appetite for peace or more war in Ukraine.

Putin said he had 'practically agreed” on proposals for ending the war set out at summit talks with U.S. President Donald Trump in Alaska in August.

The annual news conference sets the Kremlin’s tone for the next year and highlights President Vladimir V. Putin’s grip over Russia.

Russian President Vladimir Putin warned on Friday of risks for international reserves held by the world's top oil producers in the European Union, following discussions by EU leaders about using Russian assets to finance Ukraine.

Europe has “failed to rob” Russia of its frozen assets, President Vladimir Putin has said in the aftermath of a deal to offer Ukraine a massive €90bn interest-free loan. It did not reach an agreement on the use of frozen Russian assets. “They failed to rob, due to grave consequences for the robbers,” he said.