“No one can stand the prices on the stock exchange”: the President of Serbia asked Putin for help after the rise in gas prices in Europe to $1,937 per thousand cubic meters

Serbian President Aleksandar Vucic said at the EU-Western Balkans summit that he would turn to Vladimir Putin for help in resolving the energy crisis. It is reported by TASS.

Gas prices in Europe have renewed their historical maximum and reached the peak price of $1937, then dropped to $1198. “Now gas has risen in price to $1,900, our price and then $270 per thousand cubic meters.

<...> I will ask him [Putin] to help us so that we get the largest possible percentage of the oil formula and the lowest possible percentage of the exchange formula. Those prices that are now on the stock exchange, not only Serbia, no one can withstand,” Vučić said.

The day before, Vucic said that the energy crisis in Europe is due to the fact that the countries did not agree on gas supplies from Russia on time. He stressed that the construction of the Serbian Balkan Stream gas pipeline made it possible to provide the country with gas at an affordable price.

The rise in gas prices in Europe has been going on for a long time: last week they overcame the mark of $1,000 per thousand cubic meters. Dmitry Marinchenko, Director of Natural Resources and Commodities at Fitch, said that the main reason for the high prices is the low gas reserves in European gas storage facilities due to a cold winter a year ago and a hot summer.

Rainer Seele, the former head of the Austrian oil company OMV, said that gas prices in Europe could remain high in winter due to low filling of underground storage facilities.