Russian President Vladimir Putin said the West’s seizure of Russian sovereign assets was theft, and warned it would not go unpunished.
Mr Putin, who was speaking at a meeting with Russian foreign ministry officials on Friday, said the way the West had treated Moscow showed that “anyone” could fall victim to a similar Western assets freeze.
“Despite all the chicanery, theft will certainly remain theft. And it will not go unpunished”, he said.
“Now it is becoming obvious to all countries, companies [and] sovereign funds that their assets and reserves are far from safe in both the legal and economic sense of the word.
“Anyone could be next in line for expropriation by the US and the West.”
His remarks came after the leaders of the G7 countries agreed on a deal to provide $50bn (£39.2bn) of loans for Ukraine using profits from frozen Russian assets.
Mr Putin warned the world had reached a point of no return due to what he described as the collapse of the “Western model” of global security.
He accused the US of undermining global security because of its exit from arms pacts, and proposed building a new security system.
“We are witnessing the collapse of the Euro-Atlantic security system,” he said, according to Russia’s Ria Novosti news agency.
“The time has come to begin a broad discussion of a new system of bilateral and multilateral guarantees of collective security in Eurasia.
“At the same time, in the future, we must work towards a gradual reduction in the military presence of external powers in the Eurasian region.”
He said a new global security system would be open to all countries, including European members of Nato. “We live on the same continent, no matter what happens, we cannot change the geography, one way or another we will have to coexist and work together,” he added.
He said Russia would be ready for peace talks “tomorrow” if Kyiv troops withdraw from the Zaporizhzhia, Kherson, Donetsk and Luhansk regions in Ukraine – which Moscow has illegally annexed – and if Ukraine gave up its plans to join Nato.
Russia controls nearly a fifth of Ukrainian territory, and Kyiv says peace can only be based on a full withdrawal of Moscow forces and the restoration of its territorial integrity.
World leaders will join Ukraine’s President Volodymyr Zelensky at a summit this weekend in Switzerland to explore ways of ending the conflict, but Russia has not been invited.