MOSCOW. Oct 1 (Interfax) - The United Russia party is the largest political force in the country, Russian President Vladimir Putin said.

"We know well how and when today's largest political party was created," Putin said at a United Russia congress on Monday.

After the 'shock therapy' of the 1990s, the 1998 devaluation of the ruble and tragic events in the Caucasus, Russia needed a political force that would unite the country, Putin said.

"Officially, it was created on December 1, 2001. And everyone knows well that I have not just backed the party formation, but was one of those who proposed the idea of its creation," Putin said.

"Why? Because as a result of a shock therapy of the 1990s, the 1998 financial crisis, and the tragic events in the Caucasus the country's economy and social sphere were in depression. The same can be said about the public's morale at the time. The country's territorial integrity was under threat. And in those conditions we needed badly a consolidating political force. And the United Russia party has become that force of the entire Russian society, a force that ensures political stability and implementation of socio-economic programs," the Russian president said.