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Serbia has agreed to extend the supply of Russian gas until the end of March 2026, said the country's president Aleksandar Vučić.

"We have an agreement to extend gas supplies for another three months, until March 31, so that people can be safe and sleep soundly," - the RTS channel reports his comment.

In Belgrade, they hoped to conclude a new long-term gas supply contract as early as May of this year.

Supplies of Russian natural gas to the region began in 1978. Currently, Gazprom's main partner in Serbia is GP Serbia Gas. Since 2021, Gazprom has started supplying gas to Serbia via a new route - through the maritime gas pipeline Turkish Stream and then through Turkey and Bulgaria.

In 2024, gas consumption in the country amounted to 2.65 billion cubic meters - almost entirely it was ensured through Russian supplies.

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China has imposed tariffs on the import of certain dairy products from the European Union following an anti-subsidy investigation, exacerbating the trade dispute with the bloc, in which the parties exchange retaliatory measures. This was reported by Bloomberg.

As part of the preliminary decision, Beijing stated that it would impose duties of up to 42.7% on certain dairy products from the EU, establishing the fact of export subsidization, reported the Ministry of Commerce.

China began investigating supplies from the region in August 2024, focusing on products such as fresh and processed cheeses.

Later, the European Union challenged the investigation, requesting consultations under the World Trade Organization.

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The price of Urals brand, the main export grade of Russian oil, for shipment on Aframax-type vessels (deadweight — 80–120 thousand tons) from Novorossiysk this week, December 16, has fallen to $34.52 per barrel, according to data from the international pricing agency Argus.

At the same time, the Urals discount to the 'North Sea dated' quote (NSD, the cost of a basket of North Sea grades Brent, Forties, Oseberg, Ekofisk, Troll, as well as American WTI Midland) in Novorossiysk was $23.75 and $25.55 per barrel for Suezmax and Aframax vessels, respectively. This level was reached on December 10.

On a FOB Primorsk basis, the Urals grade fell to $36.07 per barrel on December 16, and the discount was $24 (it has also been at this level since December 10).

At the same time, the premium ESPO brand (VSTO) on a FOB Kozmino basis fell to $46.3 per barrel on December 17, a decrease of $0.3.

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Beijing sharply reacted to Washington's decision to approve the sale of a massive arms package to Taiwan worth up to $11 billion. The Chinese Ministry of Foreign Affairs stated that such actions inevitably increase the risk of military confrontation between the two superpowers.

The official representative of the Chinese Ministry of Foreign Affairs, Geng Shuang, stated at a briefing on Friday that U.S. military assistance turns Taiwan into a "powder keg" and pushes the situation in the Taiwan Strait to a dangerous brink.

"Any steps to arm Taiwan will have serious consequences," the diplomat emphasized, adding that China has sent a formal diplomatic protest to the U.S. and will take "all necessary measures" to protect its sovereignty.

The U.S. State Department approved one of the largest arms shipments in history (including missiles, drones, and artillery systems) to the island. This decision demonstrates the Trump administration's intention to maintain strong defense ties with Taipei, even amid attempts to strengthen trade relations with Beijing. The deal still needs Congressional approval, but it is expected to pass without resistance, just like all previous aid packages.

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The USA is preparing a new package of sanctions against the Russian energy sector to increase pressure on Moscow in case President Vladimir Putin rejects a peace agreement with Ukraine. This is reported by Bloomberg, citing informed sources.

According to sources who spoke to the agency on the condition of anonymity, the USA is considering various options, including measures against ships of the shadow fleet used to transport Russian oil, as well as against traders facilitating these transactions.

Some sources note that new measures may be announced as early as this week.

US Treasury Secretary Scott Bessent discussed these plans at a meeting with a group of European ambassadors earlier in the week.

"President Trump is a president of peace, and I confirmed that under his leadership, the priority for America will remain ending the conflict," he wrote on social media X after the meeting.

Sources warned that the final decision rests with Trump. The US Department of the Treasury has not yet responded to a request for comment.

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