The Republic of Serbia occupies a unique position in the context of the war between russia and Ukraine because of its attempts to identify its historical, political and cultural ties with both the European Union and russia. Despite this, Serbia is taking confident steps towards joining the EU and supporting Ukraine by providing humanitarian, financial, political and even military assistance.

A few months after russia launched its aggression against Ukraine, Serbia provided €3 million to Ukraine to help vulnerable children and another €1.5 million for displaced persons. In March 2024, the Government of Serbia provided financial assistance to Ukraine in the amount of €30.2 million.

Along with the financial packages, Belgrade sent humanitarian aid, medical vehicles, power generators, water treatment plants and other equipment to Ukraine, as well as assisted in the restoration of hospitals, and Serbia also accepted wounded Ukrainians for treatment. At the same time, the country plans to provide Ukraine with power equipment worth more than €8 million, including generators and transformers.

The Republic of Serbia is not a member of the international coalition that provides Ukraine with weapons and military materials. It has declared its neutrality in relation to the war, and its authorities repeatedly say that Belgrade does not supply weapons to any of the parties to the military conflict. However, the Balkan country is a participant in the global arms market, where it sells relevant products to interested intermediaries and countries. Since the beginning of the full-scale russian invasion, Ukraine has received about €800 million worth of such products.

Serbia’s most convincing support for Ukraine’s defense against russian aggression is at the political level. Since the adoption of the first UN General Assembly resolution in March 2022, Serbia has consistently been among the countries that have condemned russia’s aggression and demanded the immediate withdrawal of its troops from Ukraine. The country has supported four UN resolutions, including one condemning russia’s annexation of four eastern regions of Ukraine in October 2022. Serbia also voted to expel russia from the UN Human Rights Council in April 2022.

In February 2023, the Republic of Serbia, along with nine other countries of Southeast Europe, signed a declaration stating that russia’s aggression against Ukraine is a gross violation of international law and the greatest threat to European security.

Since the beginning of the war, Serbia has been involved in humanitarian assistance to Ukrainian refugees who were forced to leave the country because of the war. Some Ukrainians have been granted asylum in the country. Through its cooperation with the UN, the Red Cross and other organizations, the country is participating in global efforts to assist war victims.

The growth in foreign trade between Ukraine and Serbia was observed in 2023, indicating a gradual restoration and development of economic ties between the two countries. The volume of bilateral trade in goods between the two countries amounted to $319.1 million and increased by 5.6% compared to 2022. Of this amount, exports of Ukrainian goods to Serbia amounted to $135 million, including mineral products, ferrous metals and products thereof, and imports of Serbian goods to Ukraine amounted to $184.1 million (parts of railway locomotives, machinery and equipment, plastics and polymeric materials, rubber and rubber).

Serbia also remains a promising trading partner for Dnipropetrovsk region. The growing level of partnerships is evidenced by the bilateral analysis of foreign activities. The foreign trade turnover between the countries increased by 19% compared to the pre-war period.

The country’s enterprises are most interested in mineral products, ferrous metals and products made of them, edible fruits and nuts, electrical machinery, etc. The volume of goods exports from Dnipropetrovsk region amounted to $48.6 million and increased by 37.7% compared to 2022. The region’s share of exports to Serbia is 36% of the national figure.

22 companies in Dnipropetrovsk region exported their products to the Serbian market, including mining and metals, processing, and machine-building companies.

Top 5 companies in terms of exported products are the following:

In turn, 40 importing companies in the region bought the most Serbian goods, namely railway locomotive parts, plastics and polymeric materials, machinery and equipment, and other goods. Imports of goods from Serbia to Dnipropetrovsk region increased by 35.3% to $16.9 million. The region’s share is 9.2% of Ukraine’s total imports from Serbia.

Top 5 companies in terms of imported products are the following:

Import operations were mainly carried out by enterprises of the machine-building, food, processing, and trade industries.

Source: information for the article was taken from open online sources