Russia warns US and Europe over reports Ukraine may get its seized assets

Kremlin threatens ‘serious consequences’ if there is an unprecedented seizure of Russian assets held abroad

The Kremlin has threatened Europe and the US with “serious consequences”, including tit-for-tat financial seizures or even a break in diplomatic relations, if Russian assets held abroad are given to aid the Ukrainian budget and war effort.

A spokesperson for Vladimir Putin told reporters on Friday that if the Biden administration and European leaders planned to seize Russian central bank assets believed to be in excess of $300bn (£236bn) that were frozen after Moscow launched its full-scale invasion of Ukraine in February 2022, they should “realise that Russia will never leave those who do it alone”.