The comments come as the US has made efforts to reach oil deals with Libyan revolutionary forces.
Putin said the NATO campaign has raised questions about the objectives of Western countries engaged in waging attacks against Libya.
"Libya has the biggest oil resources in Africa and the fourth largest gas resources. It raises the question: isn't this the main object of interest to those operating there?" said Putin.
He added that the international community should abide by the law and act with concern for peaceful civilians.
Last month, Russia abstained in the UN Security Council vote to authorize military operations in Libya.
Putin called the UN resolution "a call for a crusade."
Dozens of civilians and revolutionary fighters have also been killed in Libya since the Western military alliance launched aerial attacks on the North African country.
NATO has recently admitted to killing revolutionary fighters and civilians in an airstrike in Libya but has refused to apologize for the deadly bombardment.
Experts say the main motive behind the Western attack on Libya is the vast oil reserves in the North African country. This is the biggest Western military intervention in the Arab world since the 2003 invasion of Iraq.