Putin calls Russia-US contacts 'all invented' in annual press conference

ABC News' Terry Moran asked the Russian president about the allegations.

Putin spoke to reporters at a marathon press conference on Thursday -- an annual tradition for the Russian leader.

Putin echoed Trump's favorite phrase of "fake news" in dismissing the allegations.

"All of this has been invented, made up by people who are in opposition to President Trump with a view to shedding a negative light on what President Trump is doing " Putin said, translated from Russian, and going on to call it "nonsense."

Trump has used similar language to deny any Russian meddling in the election.

Putin praised the work of Trump in the first year of his presidency, citing the record-high stock market as evidence.

"Objectively, we see some serious achievements accomplished over the short span he is president," Putin said. "Look at the markets, how they’ve grown. This attests to the trust investors show in him on the American economy."

Putin said there "were also things that [Trump] has not yet managed to do that he would like to."