MOSCOW - Russian Prime Minister Vladimir Putin on Sunday refused to predict his political future, but hinted that such decisions would hinge on the effectiveness of measures to battle the economic crisis.

Putin ceded the presidency to Dmitry Medvedev last year after serving a maximum two consecutive terms but then became prime minister. Russia has been abuzz with speculation he could return to the Kremlin in 2012 polls.

Initially seen by many as a mere puppet of Putin, Medvedev has in the last months moved to carve out a more distinctive profile by speaking out on rights issues and giving an interview to an opposition newspaper.

But in an interview with Japanese media published by the government, Putin added a new element to the mix by suggesting the future would be determined by how the two men responded to the challenge of the economic crisis.

"We need to take decisions that the people believe are effective," Putin was quoted as saying in the transcript.

"Depending on the effectiveness of our work, myself and President Medvedev will take a decision about what we do in the future, both me and him.

Medvedev "will look at his own political future taking into account the interests of the country and the results of our joint work."

He added enigmatically: "We will live on and we will see."

Putin was president for eight years from 2000-2008, presiding over a period of unprecedented economic growth on the back of high oil prices and restoring national pride battered by the collapse of the Soviet Union.

But he was also accused of clamping down on civil liberties and allowing the Russian army commit rights violations in Chechnya.

Since becoming prime minister, Putin has taken a front-line role in battling the economic crisis and most analysts still see him as Russia's de-facto strongman.