New president visits Russia


Tomislav Nikolić, the Serbian President designate has made his first trip abroad and significantly it was to Russia, although his first official visit as president will be to Brussels on 12th June.

The new Serbian president met with Russian president, Vladimir Putin, and was rewarded with an $800 million loan. The Russians had previously pledged $1 billion in loans but only $200 million had been disbursed. This deal will release the remaining $800 million, most of which will be allocated towards infrastructure projects.

The new president also made clear that he wanted to continue with the country’s application for membership of the European Union but that he would not recognise the independence of Kosovo. Since that is a pre-requisite for membership it suggests that the process may be slowed or stopped depending upon the nature of the new government working with Mr. Nikolić.

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