Putin Sounds Alarm on EU's Potential Seizure of Russian Assets

Russian President Vladimir Putin warns of risks to international reserves in the EU amid discussions of using Russian assets to support Ukraine. He addresses major reserve holders, highlighting the potential impact on trust in the euro zone if Russian assets are seized.

Russian President Vladimir Putin on Friday highlighted significant risks for international reserves held by leading oil producers within the European Union. This came after European Union leaders discussed using Russian assets to finance Ukraine.

Putin's statements targeted major reserve holders such as Saudi Arabia and the United Arab Emirates, including other OPEC countries. On Friday, EU leaders decided to borrow 90 billion euros ($105 billion) to lend to Ukraine for its defense against Russia over the next two years, opting not to use frozen Russian assets.

In what he termed "a robbery," Putin warned that seizing Russian assets should be cancelled, as it would have severe consequences for EU member states. He expressed concerns over a potential trust crisis within the euro zone, emphasizing that several countries, including oil producers, hold their reserves there.

(With inputs from agencies.)