Vladimir Putin has launched a furious attack against European Union leaders while chillingly warning of “serious consequences”. Speaking in Moscow at an annual TV event, he lashed out at the EU for its pursuit of using Russia’s frozen assets to fund Ukraine’s defence for the next two years, worth around €90 billion (£79 billion).

He raged: “Theft is not a great definition for this. Theft is [in] secret… here it is done in the open.” Putin went on to warn that the EU’s efforts to fund Ukraine will lead to “serious consequences”, comparing the countries involved to “burglars” in their attempts to target Russian assets.

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