Trade between Russia and Serbia rose by nearly 57% in the first half of 2022 compared to the same period last year, Serbian Innovation Minister Nenad Popovic said Thursday. "Trade between the two countries stood at $2.4 billion between January and July of 2022, up 56.94% from the same period last year," he said after meeting Russian Trade Minister Denis Manturov in Moscow.
Popovic said Russia was crucial for the energy stability of the western Balkan country. The gas price that Serbia negotiated with Russian energy giant Gazprom is a "sign that Russia is interested in a sovereign and economically resilient Serbia," he added. Russia pumped $475.4 million worth of natural gas and $671.3 million worth of crude oil to Serbia in the first seven months of this year. Gas deliveries rose 90.39% on last year.