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2/28/08

YahooNews: RUSSIA'S SUPPORT OF SERBIA IS MORE ABOUT OIL THAN KOSOVO - by Georgie Anne Geyer

For the complete report from YahooNews click on this link

RUSSIA'S SUPPORT OF SERBIA IS MORE ABOUT OIL THAN KOSOVO - - by Georgie Anne Geyer

"Since the end of the Balkans wars in the 1990s, the European attitude toward Serbia has been that this renegade of Europe would eventually, inevitably, join the European Union (E.U.)

After Kosovo declared independence, Medvedev, already chosen as interim president by Putin, traveled to Kosovo's to Belgrade to sign -- what? -- amazing deals with Serbia on a gas pipeline and almost certainly on buying into the rundown Serb oil refinery in Pancevo. Medvedev's pipeline deal for Moscow clears the way for the construction of the planned 550-mile South Stream pipeline through Serbia en route to Western Europe. Costs are reported to be in the area of $1.5 billion. In addition -- and substantively expanding the energy ambitions of Russia toward Europe -- the president presumptive said that the deal to buy Serbia's state oil refinery, NIS, would be signed soon. Russia has offered $600 million for the refinery, with an additional $730 million to modernize the company.

The purport of all of this? To see that the genie of radical nationalism, released so tragically 20 years ago in Serbia, is threatening to pop up again in the Balkans. An angry Russia is attempting to use its energy wealth to move once again into Europe. And the West had better look out."

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