Mr Putin, whose country shares a border with North Korea, also said that it would be a mistake to try to pressure Pyongyang into halting its nuclear missile program.
Putin who says the show of force by US, Japan & S'Korea is "misguided and futile", argued that only dialogue without precondition can resolve the crisis. "He also highlighted that a complex settlement of the nuclear and other problems of the Korean Peninsula could be achieved exclusively by political and diplomatic means", Peskov said.
Last week, the USA and Japan imposed fresh sanctions on entities and organizations that support North Korea, including those in China and Russian Federation.
However, this comes after Russian Federation voted, along with the rest of the U.N Security Council to impose new and stronger sanction on North Korea, following the launch of two missile test back in July.
While Pyongyang has on and off been testing ballistic missiles and getting rapped for it, tensions flared after its latest missile was launched over Japan, which is a United States ally.
The warning comes just days after North Korea raised the stakes by firing an intermediate-range missile over Japan. The tested rocket was an intercontinental ballistic missile (ICBM).
The lawmaker said he does think there is an opportunity for the USA and Russian Federation to work with the Chinese on the North Korean issue, but now is not the time, as "we are in this kind of moment-by-moment mode where we can't think strategically or long-term".
That test involved a Hwasong-12 missile - believed to be capable of carrying a nuclear payload - that traveled almost 2,700 kilometers into the Pacific, including over northern Japan.
Russian Federation participated in the six-party talks, which occurred in the mid-2000's in an attempt to get North Korea to abandon its then burgeoning nuclear program.
"Vladimir Putin said the global society should avoid being overwhelmed by emotion, it should act calmly and prudently".