VLADIVOSTOK, September 3. /TASS/. Russia has both the will and the resources to mount a serious response to the European Union's actions involving its frozen assets, Russian Deputy Foreign Minister Alexander Grushko warned.

"We are closely monitoring the situation. And the European Union should understand that we have both the political will and the resources to deliver a response that will have serious consequences for the European Union and its financial system," the diplomat told reporters, responding to a TASS request to comment on EU plans to move Russian assets out of Belgian jurisdiction so they could be used without regard to Brussels’ position.

Grushko said such actions would also undermine the EU's reputation. "Any steps to illegally seize assets will undermine the European Union's reputation as a player seeking to play a significant role in global financial markets. Its attractiveness in this regard will be seriously undermined, if not destroyed," the deputy minister said.