YEREVAN, DECEMBER 6, ARMENPRESS. Russian President Vladimir Putin will contest another presidential term in 2018. He declared his election plans at a meeting with veterans and workers of the automobile plant GAZ, ARMENPRESS reports Citing TASS.

"Yes, I will run for the president of the Russian Federation," Putin said.

His current term expires on May 7, 2018.

In 2018, Putin will participate in a presidential election campaign for the fourth time. In case of victory he will stay in office as the head of state for six years, from 2018 to 2024.

The post of the Russian president, elected according to direct suffrage, was introduced based on the results of a referendum on March 17, 1991. Any Russian citizen not younger than 35 and who has been a permanent resident of Russia for at least 10 years, is eligible to hold the office of head of state.

Russia’s forthcoming election is due on March 18, 2018. The Federation Council is to declare the date officially between December 8 and 15.