Serbia comments on Russia gas supplies — RT World News

Belgrade would go bankrupt if not for the “fantastic price” of Russian gas, President Aleksandar Vucic has explained

Serbs would not have to help save strength and decrease their intake this winter thanks to Belgrade’s insurance policies and gas imports from Russia, President Aleksandar Vucic told his fellow citizens in an tackle on Saturday. 

“There are no plans for electricity limits upcoming winter,” he claimed, including, even so, that the condition in the strength area remains “extremely difficult.” At the very same time, the Serbian cabinet is expected to supply “large discounts” to all those who did save electric power this year in comparison to the past one particular, he reported. 

These kinds of measures have grow to be doable particularly owing to gas imports from Russia, the Serbian chief believes. Serbia purchases 2 million cubic meters of gas – or concerning 63% and 64% of all gasoline it desires – from Russia and its complete charge quantities to €800 million ($797 million), Vucic claimed, calling this kind of a price “fantastic.” 

Serbia secures energy deal with Russia

If Belgrade experienced to buy fuel at the recent European current market charges, it would go bankrupt, he stated, arguing that the remaining 1.2 million cubic meters of gasoline – or all over 36% of its total use – would expense Serbia €4.8 billion ($4.7 billion) now. “And our total funds is all around €13 billion,” the president stated. 

Vucic also praised a offer Belgrade struck with Budapest that would see Hungary storing in between 300 and 500 cubic meters of gasoline procured by Serbia in its fuel storages. The Serbian president’ comments come as the European fuel rates go on to soar. September futures on the TTF hub in the Netherlands rose to almost $3,500 for every thousand cubic meters on Friday, in accordance to data on the London ICE trade.

European gas prices continue to soar

The EU is at this time making an attempt to take care of its electricity disaster, sparked significantly by the bloc’s selection to rid itself of the Russian gasoline materials amid the conflict in Ukraine. The EU has referred to as on all member states to cut down gasoline intake by 15% to ease the stress of the soaring fuel price ranges. 

In mid-June, Vucic declared he agreed a favorable price for Russian natural gas imports below the terms of a new strength offer with Moscow. Serbia was envisioned to get Russian gasoline at a cost of in between $360 to $410 for every 1,000 cubic meters, he stated at that time. 

According to the president, Serbia even now incurred important losses due to EU sanctions on Russia, particularly on oil. Though Serbia is not section of the European Union, the country’s electrical power materials transit by way of EU nations, indicating that any EU sanctions on Russia have an effect on Serbia as very well. 

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