The Russian hardman, 66, is attending this week’s G20 summit in Japan and will meet with Prime Minister Theresa May later today.
It will be the first meeting between the two leaders since Sergei Skripal and his daughter Yulia were poisoned in March last year.
Axed Tory leader May, who officially stepped down on June 7 but continues to act as a caretaker PM, is expected to demand that Putin hand over the two chief suspects in the case.
Speaking ahead of the crunch talks, Putin brushed off the Skripal affair, adding that there was too much “fuss” surrounding the killing of Sergei, a former Russian spy.
“This spy story, as we say, it is not worth five kopecks. Or even five pounds, for that matter”
He told the Financial Times: “Listen, all this fuss about spies and counterspies, it is not worth serious interstate relations.
“This spy story, as we say, it is not worth five kopecks. Or even five pounds, for that matter.”
Putin added: “The list of accusations and allegations against one another could go on and on. They say, ‘You poisoned the Skripals.’ Firstly, this must be proved.”
The former KGB intelligence officer went on to issue a chilling warning to those in Russia who were considering “betraying” the homeland.
“As a matter of fact, treason is the gravest crime possible and traitors must be punished.
“I am not saying that the Salisbury incident is the way to do it. Not at all. But traitors must be punished,” he said.
His comments came in a wide-ranging interview that broadly covered Russia’s deteriorating relations with the West.
Putin, who has lead his country for almost two decades, also used the opportunity to blast Western values and criticise open door immigration policies.
“The liberal idea presupposes that nothing needs to be done. The migrants can kill, plunder and rape with impunity because their rights as migrants must be protected.
“What rights are these? Every crime must have its punishment.”