Moscow ( CNN ) -- President Dmitry Medvedev has signed an order dismissing longtime Finance Minister Alexei Kudrin , the Kremlin reported Monday on its website . The state-run RIA-Novosti news agency said Kudrin had resigned amid a dispute with Medvedev . The announcement came shortly after Medvedev had given Kudrin until the end of the day to decide whether to quit . `` You need to make a decision quickly and tell me about it today , '' Medvedev told Kudrin during a session of the modernization commission in Dimitrovgrad . Medvedev urged that Kudrin to `` make up his mind about his political future , '' according to the non-governmental , Moscow-based Interfax news agency . The president was reacting to a comment Kudrin is reported to have made in Washington . Citing differences with Medvedev , particularly related to defense spending , Kudrin said that he would not remain in a government led by Medvedev , Interfax said . Prime Minister Vladimir Putin announced Saturday he plans to return next year to the presidency and to name Medvedev as prime minister . Kudrin , 50 , had served as finance minister since 2000 , during which time the government had paid off most of its foreign debt and created oil wealth funds that helped the nation weather the global economic problems of recent years , RIA-Novosti said . -- Maxim Tkachenko contributed to this story .
Russian Finance Minister Putin steps down over differences with Putin . Putin has already signed the decree dismissing Kurdin . The economist has been credited with helping to weather the global downturn .