Photo taken on Dec. 17, 2020 in Moscow, Russia shows the live broadcast of Russian President Vladimir Putin speaking during his annual press conference. (Xinhua/Bai Xueqi)

The new law grants Putin the possibility of holding the office for two more terms until 2036.

MOSCOW, April 5  -- Russian President Vladimir Putin on Monday signed a bill into law enabling the incumbent head of state to run for two more terms starting 2024.

The bill was approved by the lower house of parliament, the State Duma, and the upper house of parliament, the Federation Council, last month.

The new elections law was made following constitutional amendments adopted in a nationwide referendum in July 2020.

One of the 206 constitutional amendments stipulates that the limit of two presidential terms applies to the incumbent head of state, but without taking into account his previous terms.

In light of the amendment, the new law grants Putin the possibility of starting his presidency from scratch in 2024 and holding the office for two more terms until 2036.