Moscow: Russian President Vladimir Putin on Friday confirmed that he will be running for a fifth term in office in the 2024 presidential elections, state news agency TASS reported.

Putin's current presidential term expires on May 7 of next year. Russia's next presidential election is slated for March 17, 2024.

Donetsk People's Republic (DPR) Parliament Speaker Artyom Zhoga addressed Putin on the matter following a ceremony dedicated to Heroes of the Fatherland Day and the incumbent Russian president confirmed his intent to run, TASS reported.

Putin served as the Russian President from 2000 to 2008 and has been holding the post since 2012 in two successive terms. He also served as the Russian Prime Minister from 2008 to 2012.

A constitutional amendment in 2021 allows Putin to run for two more six-year terms and possibly stay in power till 2036, which will make him the longest-serving Russian leader surpassing Joseph Stalin.

Putin recently concluded his visits to the United Arab Emirates (UAE) and Saudi Arabia.

"The two sides stressed their keenness to continue working to enhance mutual & joint investments in the two countries," the Russia-Saudi joint statement read.

During the talks, Putin and Saudi Crown Prince Mohammed bin Salman al Saud commended the success of the 8th session of the Saudi-Russian Joint Committee, held in October 2023 in Moscow, to enhance the close cooperation between the two countries.

During his visit to the UAE, Russian President Putin thanked his UAE counterpart Mohammed bin Zayed Al Nahyan for his country's efforts in the environmental sphere, according to TASS.

"You are holding this event just as we expected - at the highest level. Undoubtedly, many people around the world, who are far removed from the environmental movement, are grateful for your efforts here," Putin added.

Meanwhile, Russia continues to be involved in a conflict with Ukraine after President Putin launched 'special military operation' against Kyiv on February 24, 2022.

The war has killed thousands of people on both sides and has caused huge damage to civilian infrastructure.