"Anti-Russian sanctions economically unjustifiable"
Imposing sanctions on Russia over the situation in Ukraine and possible pressure from the EU "would be impermissible and economically unjustifiable for Serbia."
Monday, 04.08.2014.
10:28
"Anti-Russian sanctions economically unjustifiable"
"It is never good when the economy is pressured by politics, but unfortunately we cannot avoid these situations," Sertić said.The PKS is taking part in the implementation of projects related to regional energy stability, and has started the first Balkan Energy Initiative, subsequently transformed into the Danube Energy Initiative - a forum of countries that should be spanned by the South Stream pipeline, Sertić said.
The construction of the South Stream is an investment worth almost EUR 2 billion, which is also significant to Serbia in terms of inflow of foreign capital, Sertić noted.
We also have a free trade agreement with Russia, which significantly boosted our exports to the country last year, the PKS president added.
"Almost 700 companies exported some type of goods to that market. Imagine what would happen if we imposed sanctions on Russia," Sertić said.
With Russia alone, Serbia had a trade turnover of over EUR 1 billion in 2013 - 30 percent more than in 2012.
Serbian food exports to Russia grew by as much as 68 percent in the first half of 2014, reaching USD 117 million, and are expected to total USD 300 million by the end of the year.
For all these reasons, imposing economic sanctions on Russia would be totally unjustifiable for Serbia economically, Sertić said.
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