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BRUSSELS, Sept 1 (Reuters) - The European Union was set to tell Russia on Monday that it will review its ties with Moscow in the light of Russia's intervention in Georgia, according to a draft statement drawn up for an EU leaders summit on Monday.

"With the crisis in Georgia, relations between the EU and Russia have reached a crossroads," said the draft, obtained by Reuters as the leaders began their emergency meeting.

"The Union will remain vigilant," it said, adding that the review "may lead to decisions on the continuation of discussions on the future of relations between the Union and Russia in various areas."

European and Russian leaders are due to meet in November and, in the run-up to that summit, the EU would take note of whether Moscow was honouring its commitments under a peace plan for the conflict with Georgia, the draft document said.

It also said the EU was ready to consider closer ties with Georgia by making its easier for Georgians to get visas, a possible free trade deal and aid for reconstruction in Georgia.

(Reporting by Marcin Grajewski, writing by William Schomberg)

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