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Serbia’s Energy Trade with Ukraine Expands as Electricity Gains Strategic Importance

Serbia’s economic relationship with Ukraine is acquiring a stronger energy dimension, with electricity exports becoming a significant part of bilateral trade alongside defence-industry links and reconstruction cooperation. During the first six months of 2026, Serbia exported approximately $57.8 million of electricity to Ukraine, accounting for about 31% of Serbian goods exports to the country. Electricity had not ranked among Serbia’s five largest export categories to Ukraine in 2025, making its rapid emergence a notable change in the structure of bilateral…

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