Vladimir Putin addressed the Russian nation in an annual news conference on Thursday, taking the opportunity to address recent developments between his regime and the United States. During the speech, Putin addressed what he believed was a misconception about claims he made recently regarding the state of the Russian military, particularly as compared to the military might of the rest of the world. In a statement made prior to Thursday’s speech, Putin had stated plainly that Russia’s military was “stronger than any potential aggressor,” but he clarified that his statement was only regarding nations he felt there was a potential for conflict with. According to Putin, he doesn’t see the United States as a threat, but acknowledges that the America military is actually the most powerful and technologically advanced in the world.

“I was a bit surprised by the statements from some representatives of the current U.S. administration, who for some reason started to prove that the U.S. military was the most powerful in the world,” Putin said, “Nobody is arguing with that.”

The Russian president went on to address the recent statements made by American President-elect Donald Trump regarding an expansion in nuclear spending. Trump Tweeted on Thursday morning that the United States “must greatly strengthen and expand its nuclear capability until such time as the world comes to its senses regarding nukes.” When asked by MSNBC if he worried his comments would prompt an increase in nuclear weapon spending elsewhere in the world, Trump replied, “Let it be an arms race. We will outmatch them at every pass and outlast them all.”

Putin was dismissive of concerns about such an arms race between the two military powerhouses, stating instead that Trump had incorporated strengthening America’s defenses into his campaign platform from the start.

“In the course of his election campaign, he (Trump) spoke about the necessity of strengthening the U.S. nuclear arsenal, and strengthening the armed forces. There’s nothing unusual here,” said Putin.

He went on to claim the Russian government would not participate in an arms race at the expense of the Russian people.

“If anyone is unleashing an arms race, it’s not us. We will never spend resources on an arms race that we can’t afford.”

Putin then addressed the recent American presidential election, as well as claims that he was personally involved in the hacking that resulted in Hillary Clinton’s emails being released—an incident many claim may have swayed the election in Trump’s favor.