Russia is ready and willing to end the conflict in Ukraine through peaceful means, Russian President Vladimir Putin said on Friday.

"We are aware of certain signals indicating that Kiev is ready to engage in some form of dialogue," Putin said during his annual press conference.

"We are equally prepared and committed to bringing this conflict to a peaceful resolution. This must be based on the principles I outlined in June of last year at the Russian Ministry of Foreign Affairs, alongside the elimination of the root causes that precipitated this crisis," he added.

Putin further noted that Russia has not yet seen any indication that Ukraine is prepared to discuss the territorial issue.

During the press conference, Putin stressed Russia's battlefield advantages, saying Russian troops were advancing along the entire line of contact while Ukrainian forces were retreating.

The balance on the battlefield has shifted decisively in Russia's favor after Ukrainian troops were pushed out of Russia's Kursk region, he added.