Antique jewelry worth about 1 billion euros was stolen from the Residenzschloss Museum in the centre of Dresden, Bild reported.

This morning, Dresden police reported perhaps the largest theft in the country's post-war history, committed at the famous German Museum.

The criminal group was found to have entered the Grüne Gewölbe (Green Vault).

Antique jewelry from the state art collection - King August II Strong's Treasure was stolen.

The criminals escaped.

The centre is blocked by police cars and the museum is surrounded by law enforcement officials.

Tabloid newspaper Bild reported that the museum's power supply was possibly sabotaged by a fire before the break-in. The responsible energy supplier confirmed the incident and said it was investigating if the two events were linked.

Bild reported that the thieves had exclusively targeted jewellery, and that they entered through a small window. There was no damage visible from outside the building, DW reported.