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Old 29-11-2021, 20:32
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KostiaFM KostiaFM is offline
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Default Re: Daily Economic news by ForexMart

November 29. Serbia will save €1 billion thanks to the price of Russian gas

Serbian President Aleksandar Vucic said that the republic will be able to save about €1 billion due to the gas price set during negotiations with Russian President Vladimir Putin.

At the meeting of the two heads of state, an agreement was signed on an oil formula, which «did not always look as attractive as it does today». This formula, at an oil price of $82-83 per barrel, allows you to pay about €270-275 per 1 thousand cubic meters of gas. And this, as Vucic noted, is a huge saving for all citizens of Serbia. The price of €270 will remain for the next six months.

The Serbian leader also declared his readiness to continue working to maintain the lowest gas prices in Europe. While the average European gas price ranges from €650 to €1200 per 1,000 cubic meters, Serbia pays €270. Such a low price became possible due to the fact that Serbia had previously built the Balkan Stream main gas pipeline with a length of 402 km.

Serbian Foreign Minister Nikola Selakovic said that the agreement concluded between Moscow and Belgrade is historic, and the policy course based on respect for international law and Vucic's diplomatic relations with other world leaders has become a guarantor of Serbia's long-term development and prosperity.
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