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Russia's Putin warns of risks for top oil producers' reserves in EU
Published by Global Banking and Finance Review
Posted on December 19, 2025
2 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 19, 2025
2 min readLast updated: January 20, 2026
Putin warns oil producers about EU reserve risks amid discussions on using Russian assets for Ukraine funding, calling it a 'robbery'.
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)
International reserves are assets held by a country's central bank or monetary authority, typically in the form of foreign currencies, gold, or other assets, used to back liabilities and influence monetary policy.
Foreign exchange refers to the global marketplace for trading national currencies against one another, facilitating international trade and investment by allowing currency conversion.
Economic growth is the increase in the production of goods and services in an economy over time, typically measured by the rise in real Gross Domestic Product (GDP).
International reserves held in the EU are assets, including foreign currencies and gold, that countries maintain within European financial institutions to support their economies and stabilize their currencies.
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