Russian President Vladimir Putin isn’t sweating over Donald Trump’s latest threat to impose sanctions on Russia. In fact, he’s calling Trump “smart” and “pragmatic” while doubling down on the former U.S. president’s claim that the 2020 election was stolen.

Putin, speaking to Russian state television on Friday, brushed off Trump’s warning of new sanctions, saying he doubts Trump would take actions that could hurt the U.S. economy. “He’s a pragmatic person,” Putin said, adding that he’d rather sit down and have a calm discussion about issues affecting both countries.

The two leaders, who have yet to schedule a meeting or even a phone call, seem to be circling each other as tensions over the Ukraine conflict persist. On Wednesday, Trump threatened to slap hefty taxes and sanctions on Russian goods if Putin doesn’t work to “STOP this ridiculous war.”

Putin, for his part, claimed Russia is open to negotiations but pointed to a 2022 decree from Ukraine that declared talks with him “impossible.” Many experts believe Putin is betting on Russia outlasting Ukraine and the West, aiming to dictate terms in any future talks.

Notably, Putin echoed Trump’s false assertion that the 2020 U.S. presidential election was stolen, saying, “If his victory hadn’t been stolen in 2020, perhaps the crisis in Ukraine wouldn’t have happened.”

The Russian leader also appealed to Trump’s economic sensibilities, highlighting the shared interest in stable energy prices. “If prices are too high, that’s bad for both our economies,” Putin said, adding that low prices aren’t great either. “We have a lot to talk about here.”

As the two leaders continue their public exchanges, the question remains: Will they actually sit down to hash things out? For now, it’s all talk—and a lot of it aimed at each other.