The state of Serbia's energy sector is stable, despite the embargo on the supply of Russian oil by sea to the countries of the European Union entering into force on Monday, Serbian Prime Minister Ana Brnabic said today, quoted by TASS.

"This (the ban on oil imports from Russia) will affect our economy, but Serbia is an energy-stable country," Bernabić's statement was quoted by the Tanjug news agency as saying.

According to the Prime Minister, thanks to the efforts of President Aleksandar Vucic, Serbia is an "energy secure country" and the government is doing everything possible to deal with the difficulties.

Earlier, the Minister of Mines and Energy, Dubravka Negre, said that recently, Serbia imports more oil from Iraq and Kazakhstan than from Russia.

According to the minister, the country will continue to subsidize electricity prices so that the price of electricity remains among the lowest in Europe.

Serbian gas prices will increase by 11 percent, while gas prices on the world market have tripled.

The price ceiling on the import of Russian crude oil transported by sea comes into force today

On December 5, an embargo on the supply of Russian oil by sea to EU countries comes into force.

On Friday, EU countries also agreed on a regulated price ceiling of $60 per barrel for Russian oil delivered by sea.

A similar decision was announced by the countries of the Group of Seven (G-7) and Australia.

The US, the EU and the UK prohibit their companies from providing transport, financial and insurance services to tankers carrying oil from Russia at a price above the agreed level, BTA notes. 

Serbia

Anna Burnabych

Russian oil