MOSCOW, Sept. 11 (UPI) -- Russian Prime Minister Vladimir Putin said Friday he and President Dmitry Medvedev would not run against each other in the country's 2012 presidential election.

RIA Novosti reported the former Russian president said he and Medvedev would reach an agreement concerning the next presidential election they have a shared political vision.

"There will be no competition. We will reach an agreement because we are of the same blood and of the same political outlook," Putin said.

Medvedev was picked by Putin to succeed him as president in 2008 and Putin immediately assumed the mantle of prime minister.

Valdai Discussion Club member Nikolai Zlobin, whose question Friday prompted Putin's comments, told RIA Novosti the current prime minister claims to be happy in his position.

"Putin said he felt comfortable with the amount of power he has as prime minister. He is in no competition with President Medvedev," Zlobin said.