Russian President Vladimir Putin has publicly announced that he has no intention of seeking a third term in 2008, when constitutional limitations require him to step down.

There has been wide speculation that Putin may move to extend his leadership, but the 52-year old leader ruled out any question of a longer term.

Putin said: "We will have to do everything so that the election of the president of the Russian Federation is organized in the required, democratic way. I am not thinking about the possibility of running as president in 2012 or 2016 or even further in the future."

Source: CCTV.com