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    HomeAsiaRussia's Putin warns of risks for top oil producers' reserves in EU

    Russia’s Putin warns of risks for top oil producers’ reserves in EU

    MOSCOW, Dec 19 (Reuters) - ​Russian President Vladimir Putin warned on Friday of risks for international reserves held by the ⁠world's top oil producers in the European Union, following discussions by EU leaders about using Russian ‍assets to finance Ukraine.

    Putin's remarks were aimed at some ​of the world's largest reserve holders, such as Saudi Arabia and the United Arab Emirates, as well as ​other OPEC countries.

    EU leaders decided on Friday to borrow cash to lend 90 billion euros ($105 billion) to Ukraine to finance its defence against Russia for the next two years, rather ‌than use frozen Russian assets.

    Putin said that a ‌seizure of the Russian assets, which he called "a robbery", had to ​be cancelled because it would have had grave consequences for EU member states.

    "This is not ‌just a blow to its image; it is an ⁠undermining of trust in the euro zone. ‌The fact is that ​many countries keep their gold and foreign exchange reserves in the euro zone, not only Russia but ⁠first and foremost ⁠the oil-producing countries," Putin said.

    (Reporting by Guy Faulconbridge, Vladimir ​Soldatkin and Anton Kolodyazhnyy; Writing by Gleb Bryanski; Editing by Mark ‌Trevelyan and Timothy Heritage)

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