Putin warns about the risks to top oil producers in EU

Vladimir Putin, the Russian president, warned that international reserves held by the top oil producers of Europe could be at risk after discussions between EU leaders regarding using Russian assets to fund Ukraine.

Putin's remarks targeted?some countries that hold the largest reserves in the world, including?Saudi Arabia, the United Arab Emirates and?other OPEC nations.

The EU decided to use cash on Friday, to "lend" 90 billion euros ($105billion) to Ukraine to help finance Ukraine's defense against Russia over the next two-year period.

Putin stated that seizure of Russian assets, which was he called a "robbery", would have grave consequences for EU members states.

"This is not just a blow for its image, it's a deterioration of the trust in the Euro zone." Putin stated that many countries, including Russia, keep their gold and foreign exchange reserves within the euro zone. This includes oil-producing nations. Reporting by Guy Faulconbridge; Writing by Gleb Brianski; Editing and Mark Trevelyan, Timothy Heritage.

(source: Reuters)