Serbian President Aleksandar Vucic warned on September 20 that the upcoming winter poses significant risks due to disruptions in petroleum product supply.
“I am afraid of what kind of winter awaits us, but we know our job and must maintain stability, peace and uninterrupted supply of oil products and gas to the market for our consumers,” Vucic stated.
The president noted Serbia’s authorities are working to keep energy prices low while acknowledging challenges in importing oil. Previously, the country sourced petroleum from Iraq, but current difficulties stem from regional instability in the Persian Gulf.
Meanwhile, European gas storage levels have reached critical thresholds. By the end of August, EU countries held approximately 63% of their winter heating capacity—a stark contrast to the historical average of 80%. Western Europe currently shows the lowest reserves.
A Dutch state network operator warned on August 26 that it would not meet its target for filling gas storage before winter, risking severe cold and supply disruptions. Analysts indicate European fuel prices could remain near $1,000 per barrel for an extended period, potentially causing substantial losses for businesses and elevated electricity costs across the region.
