Russian President Vladimir Putin has stated that Russia is set to strengthen its nuclear capabilities by adding 40 new intercontinental ballistic missiles to its arsenal. The bold declaration comes a day after Russia has accused the United States of stoking a new arms race over America's plan to send and store military equipment in Eastern Europe.

"More than 40 new intercontinental ballistic missiles able to overcome even the most technically advanced anti-missile defense systems will be added to the make-up of the nuclear arsenal this year," Putin said in a military and arms fair.

Russia has accused the U.S. of courting another arms race by planning to store military equipment in NATO states on the Russian border. The move is widely regarded in Russia as the most aggressive move by the United States since the Cold War, according to Reuters.

In response to the U.S.' plan to send military equipment to the Russian border, Russia has stated that it will retaliate if the U.S. does go through with its plan.

Tensions between the two world powers are at an all time high, due to the ongoing crisis in Ukraine, which is suspected of having significant Russian involvement. Apart from this, Washington and Moscow also have disagreements on a number of issues, reports Euro News.

Russian Deputy Defense Minister Anatoly Antonov agrees with Putin on the issue, stating that NATO's moves have so far been provocative, according to Reuters.

"The feeling is that our colleagues from NATO countries are pushing us into an arms race," he said.