"This means we need something else and this could be a new agreement between all European countries and all mechanisms and alliances and all European institutions," Medvedev added.

He said that the proposed mechanism could work for the solution of problems both before and after a crisis.

Medvedev said the initiative is not against NATO or other European institutions.

"The issue is not against whom is this initiative, but that there are problems, there are targets which cannot be attained and we need contemporary and all-round possibilities of settling problems," he said.

The Russian leader said the idea, like all other ideas, may not be perfect, but it is a proposal which Russia will continue to promote with its partners in Europe and all others who are interested in it.