Putin needs to be there -- in case something goes wrong" amid global political and economic turbulence, Valentina Tereshkova, a respected lawmaker who was also the first woman in space, told the State Duma in a speech shown on state TV during debates on a constitutional overhaul put forward by the Kremlin.

"If the situation requires it and, most importantly, if the people want it, to put in law the possibility for the current president to be re-elected to this position is already in accordance with the updated constitution."

Interfax news service reported that in his address to the State Duma, the parliament's lower house, Putin said:

"I believe and am deeply convinced that a strong presidential power is absolutely necessary for our country."