MOSCOW: Russian Prime Minister Vladimir Putin said today he would “think about” running for president in 2012, refusing to rule out the possibility that he could return to the Kremlin.

“I will think about it. There is plenty of time,” Putin said when asked during a televised phone-in show whether he would run in 2012 when President Dmitry’s Medvedev’s term expires.

There has been intense speculation that Putin, who served as president in 2000-2008 and is still widely seen as Russia’s most powerful leader, might be planning to return to the presidency. Ex-KGB agent Putin, 57, downplayed talk of his political future, however, saying it was more important for him to focus on Russia’s current social and economic problems.

“Right now it is only 2009. I think the biggest mistake would be to take efforts going on right now and make them subordinate to the interests of a future election campaign,” he said.

Putin was barred by Russia’s Constitution from running for a third consecutive term in 2008, but nothing prevents him from running in 2012 and he has never ruled out the possibility.

In September, Putin said — instead of competing — he and his hand-picked successor Medvedev would “come to an agreement” about who would run in the election.

Asked by one caller about his so-called “tandem” with Medvedev, Putin said their same university

background and values allowed them to “effectively work together.” “We have known each other many, many years,” he stressed.

Meanwhile, in Rome Russian President Dmitry Medvedev said he did not rule out running for a new term in 2012, shortly after strongman

Prime Minister Vladmir Putin refused to rule out the possibility of returning to the Kremlin.