Putin describes the violence in Ukraine as a "full-scale civil war," and says its intervention in Crimea helped avoid deadly clashes. (Dow Jones)
UPDATE: Putin is now making his way to the hall where he'll make his address, hosted by CNBC
CNBC's Geoff Cutmore introduces Putin onto stage, along with a number of business leaders.
Putin says there has been a reluctance to recognize new leaders of the global economy.
Putin: Economic sanctions in the globally connected world of today will eventually hit the economies of the very countries that imposed those sanctions in the first place.
Putin: Failure of Russia's Western partners to compromise aggravates instability.
Putin: The situation with Ukraine is absurd. He says the country is abusing its position as a gas transit country.
Putin: We want closer ties with the European Union.