Vučić: If the Strait of Hormuz is not opened, oil prices will destroy everyone

Serbia will not allow uncontrolled price increases due to rising oil prices.

As reported by BAKU.WS with reference to Report, this was stated by Serbian President Aleksandar Vučić.

According to him, amid the tensions involving Iran, fuel prices cannot be allowed to rise uncontrollably, and appropriate measures will be taken in this regard.

"My approach is to determine subsidy mechanisms within the next month, as we cannot allow uncontrolled price increases. Gas prices have risen, there is no more gas, Qatar has turned off the tap," he noted.

The President of Serbia emphasized that the current tensions could seriously affect the cost of oil and gas on global markets. He added that he would discuss this issue with the ministers of finance and energy.

"We are entering an extremely difficult phase. If this continues, it will literally be hell for everyone in Europe. If the Strait of Hormuz is not open, oil prices will destroy us all," Vučić stated.

In conclusion, he noted that, fortunately, Serbia has significant fuel reserves.