SOCHI - The 2018 FIFA World Cup hosted by Russia would not disappoint football fans around the world, President Vladimir Putin said Monday.

Russian President Vladimir Putin delivers a speech at the SportAccord General Assembly at the Olympic Park in Sochi, April 20, 2015.??[Photo/Agencies]

"We are not going to disappoint you or any football fan throughout the world," Putin said while meeting with President of FIFA Joseph Sepp Blatter here.

All preparations have been going actively and proceeding according to the plan, Putin said.

"Russia faces a big, not to say enormous, task to prepare for the 2018 FIFA World Cup," Interfax news agency quoted Putin as saying.

Blatter congratulated Putin with the significant progress Russia had made in preparation for the tournament.

"You and the steering committee deserve five stars," Blatter said, noting that certain budget cuts made due to Russia's economic situations are not problems at all.

"Economic problems will be overcome," Blatter said.

Earlier this month, the Russian authorities decided to cut over 400 million US dollars of its spending for the World Cup preparations.

Blatter added that the World Cup plays an important role in uniting people around the world.

"We are looking forward to this world championship to fulfill this task: to unite Russia and the rest of the world," according to Blatter.