Russia is not afraid of a new Cold War taking hold and is ready for `anything,` Russian President Dmitry Medvedev said on Tuesday in a television interview.

`We`re not afraid of anything (including) the prospect of a Cold War. Of course we don`t need that ... Everything depends on the stance of our partners and the world community and our partners in the West,` Medvedev told the Russia Today channel in comments translated into English.

Asked whether Russia was ready for the consequences of recognising Abkhazia and South Ossetia, Medvedev said: `If they want to preserve good relations with Russia, they will understand the reason for taking such a decision and the situation will be calm.`

Thompson Financial via Forbes