Dec. 31 (Bloomberg) -- Prime Minister Vladimir Putin said Russia’s economy is an “island of stability” amid the turbulence in the global markets and as he seeks another term as president.

“The world’s economy hasn’t calmed from turbulence,” Putin said in a New Year message broadcast on state television. “In this sense Russia is notably an island of stability -- in any case for now.”

Putin will seek to return to the Kremlin in March elections after serving as prime minister following two terms as president. He is also confronting the biggest anti-government protests in more than a decade after alleged fraud in Dec. 4 parliamentary elections.

--Editors: Shaji Mathew, Mike Harrison

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To contact the reporter on this story: Stephen Bierman in Moscow sbierman1@bloomberg.net.

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net.