Vučić from Budapest on the EU's terrible decision: "I don't see all the solutions at this moment"

“Serious and important discussion. The situation is becoming increasingly complicated in every sense. Regarding our economy, we talked about future gas supply, the operations of the MOL oil company, and how to ensure easier access to ports to secure sufficient supplies of all petroleum products,” Vučić said.

“We also discussed our bilateral relations, including banking and cooperation; our relations are at an exceptional level. We are very loyal friends to each other. Today, the Energy Council made decisions that are not great. And people say, ‘Well, we still have a year and a few months’ – so what are we supposed to do in that time?” Vučić added.

“How do we build our gas interconnector, create a reversible phase towards Hungary, an interconnector to Bulgaria, and once all that is done, the question arises how we will pay 30–40% higher prices,” Vučić said.

The President emphasized that such an EU decision is disastrous for investments as well.

“This is all a matter of electricity. Without the excellent work last year at Teto Pančevo, like Russian power plants, we wouldn’t have enough energy for our country. This affects our economy. How do we explain to investors that in two and a half years we don’t know how much gas we will have, and who would come to such a country?” Vučić said.

“We will solve the problems; it won’t be easy, but people should not panic. We didn’t even have a gas pipeline before, we were like Montenegro, and now we consume almost three billion cubic meters of gas,” Vučić added.

Asked how much MOL could compensate for the lack of oil via JANAF, the President said much more is at stake.

“MOL helps us a great deal; they will import more derivatives, not crude oil, because you never know how long the refinery will operate. This is a good bilateral situation, but our refinery must operate in the future. We must not pay higher prices,” Vučić said.

“To build a new refinery would take you three years,” he added.

“Europe is drawing a curtain towards the Russian Federation; they won’t have anyone neutral behind that curtain. We would like a policy of peace, but many today do not want it. Hungary does,” Vučić said.

“Through hard and diligent work, we will find a solution. I’m just waiting for some news that we won’t be able to use air and water. I don’t know what has hit us all,” Vučić concluded.

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