Vučić accuses EU of stealing $600m from Serbs over oil embargo

Serbian citizens are in for "big problems" once the oil embargo goes into full effect, Vučić said.He also accused the EU of stealing $600 million a year from the Serbs due to the effects of the embargo.

EU sanctions against Russian oil "stole $600 million from the pockets" of Serbian citizens, President Aleksandar Vucic said, Blic reports.

“Due to sanctions against Russian oil, $600 million [a year] was stolen from the pockets of Serbian citizens. We are in a difficult position,” he said.

At the same time, according to Vucic, the biggest problems await the citizens of Serbia after December 1, when the grace period ends and the oil embargo against RUSSIA begins to operate.

Spiegel assessed the consequences of the oil embargo for Russia and Europe Economics

On May 30, the European Union agreed on the sixth package of sanctions, which implies the introduction of a partial embargo on the import of Russian oil. On June 2, the new restrictions were approved by the ambassadors of the EU countries, at a higher level the document was adopted the next day.

As the HEAD of the European Commission, Ursula von der Leyen, explained, sea transportation, which accounts for two thirds of Russian exports, fell under the ban. The EU received the rest via oil pipelines, while Poland and Germany decided to refuse any form of Russian oil supplies, so by the end of the year it will only enter the EU through the southern part of the Druzhba pipeline, which accounts for 10% of the total volume of oil bought by the EU at Russia. The import of oil from Russia to the EU countries will be completely banned six months after the approval of a new package of sanctions, and oil products - eight.

The issue of the oil embargo has been discussed by the EU countries since mid-April, but so far they have not been able to agree: Hungary, which receives 60% of its oil from Russia, has also opposed it. The Serbian president said in mid-May that the Serbian authorities would adhere to the decision of the country's National Security Council to refuse to impose sanctions on Russia, as far as possible.

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The Kremlin called Western sanctions illegal and assumed that if the EU refuses to buy Russian oil, then Russia will compensate for these volumes with sales in the east. Russian Deputy Prime Minister Alexander Novak has previously warned that if the embargo is adopted, the price of oil could soar to $300 per barrel.

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