MOSCOW - Russia is not a threat to the West, President Vladimir Putin insisted in an interview published on Saturday, saying he was still committed to a Ukraine peace deal after a fresh flare-up in the country's east.

"I would like to say - there's no need to be afraid of Russia," Putin told Italian newspaper Corriere della Sera in an interview published Saturday, ruling out a major conflict between Russia and NATO member countries.

"The world has changed so much that people in their right mind cannot imagine such a large-scale military conflict today."

"We have other things to do, I can assure you," the Russian president said.

"Only a sick person -- and even then only in his sleep -- can imagine that Russia would suddenly attack NATO."

The Russian president spoke ahead of his visit to Italy next week that will include a meeting with Pope Francis.

Putin's interview was released by the Kremlin just as Group of Seven leaders are gearing up to meet in the Bavarian Alps for a summit this weekend without Russia.

In the interview, Putin stressed that Russia merely sought to defend itself from outside threats.

He pointed out that NATO members have defence expenditures that are 10 times Russia's military spending, adding that the US military budget was the biggest in the world.

To ensure a strategic balance, Russia will develop "systems to overpower anti-missile defences", Putin said. (AFP)