Serbia

Serbia's energy security is moderately strained, largely due to its 90% oil import dependency and historical reliance on Russian energy supplies, though it lacks direct Hormuz exposure. Gasoline prices are at $1.58/L, and a 48% increase in fertilizer costs contributes to a moderate food risk for the nation. With 65 days of oil reserves, Serbia is actively seeking greater energy solidarity with the EU to diversify its sources and mitigate future shocks. The outlook for the coming weeks involves navigating complex geopolitical energy dynamics while striving to secure stable and affordable supplies.