"International terrorists have set as their goal inflicting the maximum damage to Bush, to prevent his election to a second term.
"If they succeed in doing that, they will celebrate a victory over America and over the entire anti-terror coalition," Putin said.
"In that case, this would give an additional impulse to international terrorists and to their activities, and could lead to the spread of terrorism to other parts of the world."
Putin noted that American voters will not decide the election just on Iraq.
"Because of this we must take a realistic approach and be prepared for any development of events," he said. "We respect any choice the American people will make."
President Putin made it clear Russia remained opposed to the war in Iraq.
"Today, our views on that differ from the views of President Bush," he said.