Importance Score: 65 / 100 🔴
Serbian President Seeks Stronger Energy Ties with Russia Amid EU Efforts to Cut Dependence
The president of Serbia has stated that Russian energy supplies are a vital concern for the Balkan nation, expressing a desire to cultivate closer ties with Moscow. Serbian President Aleksandar Vucic met with Russian President Vladimir Putin during the Victory Day parade in Moscow on May 9, an annual commemoration of the end of World War II. “You are aware that we face a pivotal matter,” the Balkan leader remarked. “This concerns the provision of gas supplies.”
“We possess a long-standing agreement with highly favorable terms. I extend my gratitude for this. We are hopeful that these terms can be sustained for us, and, if I may suggest, even enhanced,” President Vucic conveyed. “We collaborate across diverse sectors, yet I believe we possess the capacity to augment and reinforce this collaboration across all domains.” This development arises as the European Union, which Serbia is not a member of, endeavors to curtail its energy reliance on Russia following its full-scale incursion into Ukraine in 2022.
EU Aims for Energy Independence
The EU’s REPowerEU initiative aims to achieve energy independence from Moscow through a progressive reduction in oil, gas, and nuclear imports.
- Officials intend to decrease Russian gas imports by 33% by the close of 2025.
- The goal is to completely halt these imports by 2027.
Gas Supply Negotiations
On May 9, Russian Presidential Aide Yury Ushakov informed reporters that the subject of gas supplies to European nations was addressed during discussions between Moscow and Washington.
Reuters has reported that U.S. and Russian officials have engaged in discussions concerning potential U.S. assistance in reviving Russian gas sales to Europe, according to multiple sources familiar with the situation.
Potential Role of Russian Gas
It is believed that maintaining a role for Russian gas in Europe could potentially facilitate a peace agreement with Putin regarding the conflict in Ukraine.
The Russian news agency Interfax quoted senior Kremlin aide Yury Ushakov as stating: “We are raising this issue with the Americans.”
UK Sanctions Target Russian Oil Exports
The UK has introduced a new set of sanctions focusing on Putin’s network of vessels illicitly transporting cargo in violation of current limitations on oil and gas exports.
The government will implement measures against up to 100 oil tankers that have transported cargo valued at over $24 billion (£18 billion) since the previous year.