Vucic: Oil prices won’t be allowed to run rampant

He said measures would be introduced to deal with the situation. “My idea is to find measures for subsidies in the next month because we can’t allow prices to run rampant. Gas prices are up, there is no more gas, Qatar has closed the tap,” he told reporters during a tour of the reconstructed national dispatch center of the country’s power grid company.

He warned that the situation could have a drastic effect on oil and gas prices, adding that he will discuss the situation with the finance and energy ministers. “We are entering an impossible situation. If this continues everyone in Europe will have a literal hell … Unless the Straits of Hormuz are opened oil prices will kill us all,” Vucic said. He added that “fortunately, Serbia has huge fuel reserves”.