He claimed the tyrant blamed "Britain, not the US" for being "at the heart of Russia's failures".
In another alarming claim, he said Britain "is in Putin's crosshairs" and that the dictator "is not driven by logic" but "motivated by revenge, legacy and romance".
The former Tory minister's warning follows that of Army head General Sir Roly Walker, who said Britain must be ready to fight a major war in three years as Russia seeks revenge on the West for aiding Ukraine.
Warped
Mr Wallace said Putin and his henchmen - former KGB spies known as Siloviki "see themselves as rewriting history by correcting the humiliation they felt at the end of the Cold War and settling scores for hundreds of years".
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