Development of Russia causes fears among some world powers but those fears were groundless, President Vladimir Putin said Monday.

"When Russia demonstrates positive (approach) and development, the remnants of the theory of containment pop up here and there," Putin told a meeting with Public Council of the Winter Olympic Games in Sochi.

Russia's advance causes some fears in economy, politics, security among other world players, Putin said, without naming the world players.

Noting that the containment theory was born at the heights of the Cold War, Putin described the theory as atavistic and said attempts to contain Russia were "doomed to failure."

Putin welcomed possible normalization of relations between Moscow and Tbilisi and did not rule out the possibility of a meeting with his Georgian counterpart Giorgi Margvelashvili.

"Why not, if he wants it?" Putin said, adding that Russia welcomes Georgian attendance of the Olympics in Sochi.

"This is a very good sign. This is an example of how the Olympic Games help to build relations which used to be seemed impossible," he said.

He said participation of the Georgian team in the Sochi Olympics would facilitate normalization of relations between Moscow and Tbilisi.

Georgia severed diplomatic relations with Russia in August 2008 after Moscow recognized independence of South Ossetia and Abkhazia.