It follows claims that Donald Trump’s administration could impose restrictions on outlets like Russia Today and the Sputnik news agency.
The Russian President said: “In this case we will do it only in kind and quite quickly
“As soon as we see concrete steps limiting the activities of our mass media, a tit-for-tat response will follow immediately.”
Russia Today has said the US demanded it registers as a foreign agent and hand over data on its staff.
The state-sponsored channel claims it is being forced out of the US media market.
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It comes after claims Russia interfered in the US presidential election and repeated allegations of ties between Russia and the Trump team.
Speaking in Sochi following a question from Russia Today and Sputnik’s own editor in chief, Mr Putin branded the threats “absurd”.
He said: “It has nothing to do with democracy.
“It’s absurd, undemocratic to put pressure on any legally operating media outlets.”
Mr Putin later said he hoped Moscow could cooperate with Washington in a broader range of fields.
“We have dialogue at the work level and on the level of the special services, the defence ministries, the foreign ministries.
We achieve joint results,” Putin said at a forum with scholars. “We have to expand our cooperation to other spheres.”