Russian President Vladimir Putin warns the world is facing the most dangerous decade since the end of World War II, denouncing the West for inciting war and playing a "bloody" geopolitical game.

In a speech addressing the Valdai Discussion Club, a gathering of Russian specialists, on Thursday, the Russian leader said he had no regrets about sending troops into Ukraine, more than eight months after Moscow began its operation in the ex-Soviet republic.

"We are standing at a historical frontier: Ahead is probably the most dangerous, unpredictable and, at the same time, important decade since the end of World War Two," Putin warned.

The circumstances are "to a certain extent revolutionary," he said.

Putin also condemned the West for what he called inciting the war and playing a "dangerous, bloody and dirty" geopolitical game that was sowing chaos around the globe. The West is declining despite its pursuit of dominating the world, Putin said.

"The historical period of the West's undivided dominance over world affairs is coming to an end."

The Russian president also stated that the West is not able to "single-handedly govern humanity" but is "desperately trying to do it". He said, "Most peoples of the world no longer want to put up with it."

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