Russia gives Serbia chance to save one billion euros on natural gas

Serbian President Aleksandar Vucic said that Serbia would save about a billion euros owing to the favorable gas price that Russia set for the country as a result of the negotiations that took place on November 25. Speaking about his meeting with Russian President Putin, Aleksandar Vucic noted that he had reached an agreement with his Russian counterpart on the oil formula that did not always look as attractive as it did today. According to the agreement, Serbia will be able to pay about $270-275 per thousand cubic meters of natural gas against the backdrop of current oil prices of $82-83 per barrel. Serbia will continue to enjoy the lowest gas price in Europe, excluding the CIS countries, Vucic said. Serbian citizens will thus save up to one billion euros at least, including all foreign exchange transactions. Vucic also said that the issue was of strategic importance for the country.