Speaking at the international conference on 'Russian Energy Week', the Russian president said the new initiative used by Europe for creation of a new mechanism to ease financial transactions with Iran paves the grounds to ignore the US economic sanctions although it is a very late decision.

'Taking a late measure is much better than sitting idly,' President Putin said.

Recently French president has urged Europe to be independent in dealing with economic transactions with the US, he added.

There is no doubt that this is a right decision, the Russian president underlined.

President Putin said that the US measures against Iran will be harmful for global economy.