Serbia to receive a $1 billion loan from the UAE

The corresponding agreement was signed by the head of the Emirates, Sheikh Mohammed bin Zayed, and Serbian President Aleksandar Vucic, who is in the UAE on a state visit.The interest rate on the loan will be 3% per annumAlexander VucicAlexander VucicAlexander VucicAlexander VucicAlexander Vucic

Serbian President Aleksandar Vucic signed an agreement to provide Belgrade with a $1 billion loan at 3% per annum during a visit to the UAE and talks with Sheikh Mohammed bin Zayed, Bloomberg reports.

Due to close relations with Russia, Western institutions have denied Serbia the lucrative loans it needs to service its debt and invest in energy, Vučić said.

“Now we breathe a lot easier - we are much more secure,” the Serbian president said after signing the agreement.

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This is not the first time Serbian authorities have signed loan agreements with the UAE. In 2014, the Serbian Ministry of Finance signed an agreement to provide Belgrade with a $1 billion loan at 2% per annum for ten years. Two years later, Serbia again took a loan from the UAE for $1 billion, but at a rate of 2.2% per annum.

Patrushev announced the West's attempts to "drive a wedge" between Russia and Serbia Politics

Serbia is one of the few European countries that did not impose sanctions against Russia after the start of the military operation in Ukraine. The country is not a member of the European Union, which has introduced restrictions against Moscow. MEPs adopted a resolution in which they demanded that Belgrade join the sanctions.

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Vučić stressed that the country supports the territorial integrity of Ukraine, but is not yet going to impose sanctions, which it considers ineffective. In addition, Belgrade is trying to maintain an independent course in this context, but can not promise anything, he said.

At the end of August, the Serbian leader warned that European countries would face blackouts in the near future due to anti-Russian sanctions and the energy crisis. In his opinion, there is no country in Europe capable of withstanding current gas prices.