The Russian president told his annual live televised question-and-answer session that there were some positive economic indicators despite a weak currency and unemployment, and that the country could not be compared to other sanctions-hit nations such as Iran.
"Sanctions make an impact, contribute to our troubles, but [are] not the main thing," he said. "Russia is not Iran. Our country is bigger, our economy is bigger and more diversified, we have a different energy policy."
He said Western sanctions imposed in the wake of Russia's annexation of Crimea were "a political matter" aimed at "hindering our development."
"It is not even connected to Ukraine anymore, we're fulfilling the Minsk peace agreements," Putin said. "You can hardly expect the lifting of sanctions anytime soon."
Russia is also enjoying record-setting levels of construction, he added.