Energy Crisis, Price Jumps over War in Ukraine

Gazprom petrol station, Novi Sad, February 4, 2022 (BETAPHOTO/DRAGAN GOJIC)

The war in Ukraine has shaken the foundations of food and energy security, the issue of vital importance in any state. Even if Ukraine’s turns out to be a prolonged conflict, Serbia shouldn’t have any problems to secure basic foods for the country’s commodity reserve, as there’s a surplus of the commodity at this point, but it had to import milk powder while milk producers were forced to close their doors due to low milk prices. When it comes to energy security though, the situation is quite different.