Serbia "won't profit from EU sanctions"

BELGRADE -- Serbia's decision to respect the will of the EU regarding exports to Russia will not have a dramatic effect on the economy, Trade Minister Rasim Ljajić said.

(Tanjug, file)
(Tanjug, file)

It was announced on Friday that Serbia would not additionally subsidize exports to Russia, but would also not halt them, or introduce sanctions against that country.

Serbia neither wants to take advantage of the situation, nor has the capacities to significantly increase its exports, he explained.

"Over the first six months of 2014, when no EU sanctions were in place, our agricultural and food exports to Russia rose by 68 percent,” Ljajić told the Tuesday edition of Belgrade-based daily Blic.

"Russia's imports are growing, not only from Serbia but on an international scale. Our export to Russia cannot even compare to that of other countries," noted Ljajić.