The European Union has been warned against seizing £80 billion worth of Russian assets, with a close ally of Vladimir Putin saying the move could be seen by the Kremlin as a "casus belli". Politician Dmitry Medvedev said Russia would deem the act a direct provocation, leading to "relevant implications" for the bloc.

He said in a statement: "If the crazy European Union does, after all, try to steal Russian assets frozen in Belgium under the guise of a so-called 'reparations loan', Russia may well view this move as tantamount to a casus belli with all the relevant implications for Brussels and individual EU countries."

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