"If no one feels like extending the New START agreement, well, we won't do it then", the Russian president said.
Putin, who was meeting Thursday with the head of global news agencies, was responding to a question about a tweet by U.S. President Donald Trump earlier this week that said Moscow had informed Washington it had pulled out its personnel from Venezuela.
"There won't be any instruments limiting an arms race, for example, deploying space-based weapons".
Together with another agreement known as the Intermediate-Range Nuclear Forces (INF) treaty, New START is considered a centrepiece of superpower arms control.
The Russian president also said that all nuclear-armed countries should be involved in discussions on the matter - something China has opposed.
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On Venezuela, a close Russian ally, Putin said that Russian technical specialists remained in the Latin American country in order to service Russian military hardware. Moscow, which has denied any breaches, followed suit.
While criticizing the US moves, Putin said that his latest phone call with Trump "encouraged certain optimism". Such broad talks could become "the light at the end of the tunnel", the Russian president concluded. He charged 12 Russian military intelligence officers with breaking into Democratic Party emails, and also indicted other Russians who used phony social media accounts to spread divisive rhetoric and to undermine the US political system.
"We believe that a decision to forego the benefits of New START by failing to extend the agreement would be a serious mistake for strategic stability and United States security", said the letter signed by eight lawmakers, including Eliot Engel, who chairs the House Foreign Affairs Committee.
In March, the US president called on Russian Federation to "get out" of Venezuela after Moscow deployed around 100 military personnel to the crisis-hit country.
Putin added that Russia's new weapons will protect its security "for a long time to come" even if the pact isn't extended, but he voiced concern about the "complete dismantling of arms control mechanisms".