MOSCOW, Dec. 19 (Xinhua) -- Russian President Vladimir Putin on Friday called the European Union's attempts to seize Russian assets "robbery," warning that such actions could have serious consequences for Europe's financial credibility and the global financial system.

Speaking during his annual press conference, Putin said Russia will defend its interests related to overseas assets primarily in courts, stressing that confiscating Russian property abroad would not be easy and would face legal challenges.

Putin warned that seizure of Russian assets in the EU would go beyond reputational damage, undermining trust in the eurozone and shaking confidence in Europe as a safe place to hold reserves. He said some countries have already begun to doubt the security of their assets stored in Europe.

Putin also said that proposals to extend loans to Ukraine backed by Russian assets would increase the financial obligations of EU member states, many of which are already dealing with budgetary pressures. Enditem