US attempting to drive Russia out of EU fuel market – Serbia

The controversial Nord Stream 2 pipeline remains to be not licensed and in operation due to stress from Washington, which is attempting to drive Russia out of the EU fuel market, the President of Serbia claimed on Sunday.

Aleksandar Vučić’s feedback got here simply three days after he agreed to increase a fuel take care of Russia that can save Belgrade round €1 billion ($1.12 billion), in response to his calculations.

“The Russians have a problem that they are not talking about,” he advised TV channel Pink. “Namely, there are attempts to politically squeeze them out so that they do not have gas in Europe.”

According to Vučić, the EU is wanting 70 billion cubic meters of fuel. Fifty-five billion of that may very well be offered by Nord Stream 2, whether it is allowed to function, he claimed.

Despite quite a few packages of American sanctions, the controversial pipeline was accomplished final month. It stretches from the Russian coast via the Baltic Sea to Germany, permitting Moscow to ship fuel with out transiting different international locations. It would additionally make the method much less reliant on third events, thereby reducing the worth. According to Washington, nevertheless, the pipeline threatens Europe’s “energy security.” Some have claimed the US is motivated by its personal want to promote liquefied pure fuel (LNG) to the continent.

Due to points with the German regulator and its insistence that Nord Stream 2 AG create a German subsidiary, the pipeline’s certification has been delayed. Once the formalities are accomplished, it may very well be turned on subsequent 12 months.

The contract for fuel provides from Russia to Serbia has been in drive since 2012 and expires on the finish of 2021. The worth, set at $270 per 1,000 cubic meters, is significantly decrease than the present spot worth and has been prolonged for an additional six months on the identical phrases. Last month, LNG costs in Europe hit a file excessive of $1,900 per 1,000 cubic meters.