Vucic: Incredible things happening on markets, Serbia will suffer consequences. We are forming crisis teams

Our economy is the fastest growing in the region, but it will face some problems due to the conflict between Ukraine and Russia, stated President of Serbia Aleksandar Vucic.

"Incredible things are happening on the world market. The price of oil has risen to 112 dollars per barrel, I'm not talking from year to year, but from day to day. The consequences will reach us," he said, recalling that the price of gas has also increased.

Therefore, Serbia has formed two teams, for oil and for gas, which will monitor the situation.

"We have also formed a team for grains. The price of grain on the Product Exchange is jumping," he said, adding that he is particularly concerned about the price of coal.

"We now have reserves for over two months," he said.

"We are not ready to nationalize Russian property. If we can buy something of the businesses, we will buy it, but we will not steal it," said Vucic.

He added that the country is liquid and has enough gold reserves, and that the state will buy additional quantities in order to strengthen the reserves.

"Our banking sector is 100 percent safe," he added, and reminded that Aik Bank had taken over Sberbank, and that citizens' deposits are safe.

President of Serbia Aleksandar Vucic last night addressed the public regarding the development of the situation in Ukraine, during which he informed citizens about the plans and measures of the state in order to protect the economic and financial system of our country.

At the UN Assembly, Serbia condemned Russia's attack on Ukraine.

"Pressure on our country will be increasing, and we are yet to witness the complete destruction of order. You saw it, and what I can predict is that one of the next initiatives will be the exclusion of Russia from the UN. I say that because of what follows for us. After that, there remains open space and pressure on the People's Republic of China to change Resolution 1244, after which we would no longer have a legal basis on which to rely on international law. This is followed by recognition (of Kosovo) by the UN and NATO. I am not ruling that out at all," Vucic announced.

(Telegraf Biznis)