Putin told Russian parliamentarians that Moscow has been justified in leading a diplomatic campaign against the launch of a strike against Iraqi President Saddam Hussein's regime.

"As we predicted, the consequences of the war in Iraq are going outside the framework of a regional conflict," Putin said in televised remarks.

"Perhaps, for the first time since the end of the Cold War, the international community has come up against such a difficult crisis. In essence, this threatens to shake the very basis of global stability and international rights."

Putin stressed that despite the outbreak of war Russia still believed the UN Security Council -- where Moscow has veto power -- should lead the way out of the conflict.

"Today, we have to look together for a way out of the current situation," Putin said in comments that appeared to be addressed to Washington and London.

"The only proper decision would be for an immediate end to military action, and for a political solution through the UN Security Council.

The main task of the international community is "to prevent a humanitarian catastrophe in Iraq," he warned.

"The military operation in Iraq is becoming bitter and long drawn-out. With every hour the killing and the destruction increases, civilians die, American and British and Iraqi soldiers die," Putin said.

Russian Foreign Minister Igor Ivanov said that Moscow and a majority of other countries were doing everything they could to put a stop to the conflict.

"If the war is not stopped in the near future, there is a great threat of the worst possible humanitarian disaster, the worst the world has seen," he said at talks with Indian Deputy Foreign Minister Kanwal Sibal.

"We are working together with India and the overwhelming majority of the world in searching for ways to stop this bloodshed," he added.

In its consequences, the war in Iraq is becoming more than a local conflict, Putin warned.

It marks the first time since the end of the Cold War that the international community had encountered "such a serious crisis capable of upsetting the fundamentals of global stability and international law", he said.

Moscow has strongly opposed the military campaign, which the United States says is aimed at disarming the regime of President Saddam Hussein by force, and has asked the United Nations to rule on the legality of the invasion launched on March 20.

Putin moreover rejected suggestions that Russia's position on Iraq was motivated simply by economic concerns.

Russia "has never based its policy towards Iraq solely on economic factors or interests. Economics is an important part of politics but if we get political assessments wrong, that leads also to economic losses," Putin said.

Russia remains open to cooperation with all sides engaged in the conflict, he added, stressing in particular that "our partnership with the Americans give us the basis for an ongoing, open dialogue."

Russia has noticeably hardened its stance towards the stand-off with Iraq since the start of hostilities, insisting that the conflict be returned to the UN Security Council and for the earlier weapons inspection regime to be resumed.

Putin has called the coalition invasion a "serious political mistake," warning that it could seriously destabilize the region, while foreign minister Ivanov on Wednesday warned that it was "illegal and doomed to failure."

The mounting tone between Moscow and Washington has led commentators to warn of a return to Cold War-era tensions.

WAR.WIRE