It is impossible to provide a definitive assessment of the amount of Russian investment in the Western Balkans. There are varying levels of investment across the region, with a strong emphasis on the energy sector.<\/p>
Figures from the Serbia Investment and Export Promotion Agency (SIEPA) show that Russia was the seventh largest foreign direct investor in Serbia in the period 2001-13. The majority of that investment is in the energy sector. In 2013 87 per cent of Serbia\u2019s gas needs were supplied by Russia. Gazprom owns 56 per cent of the Serbian oil company Petroleum Industry of Serbia (NIS). It is investing a reported $2.1 billion in the building of South Stream. Other energy companies, such as LUKOIL, are active. There has also been Russian investment in the railway and banking sectors.<\/p>
In the first nine months of 2013, Bosnia and Herzegovina (BiH) attracted \u20ac95 million of Russian investment, which was 46 per cent of total foreign investment. To date the biggest Russian investment in BiH has been in the privatisation and modernisation of the petrol industry in Republika Srpska (RS) and the acquisition of Austria\u2019s Volksbank by Sberbank. Other projects of Russian interest are: a coal mine and thermo-power station complex at Uglejevik; a branch pipeline connection to South Stream (into Serbia), which provides mains gas supply to 47 towns in Republika Srpska; and a hydro power plant at Dabar, with a proposal for two further small hydro plants.<\/p>
Macedonian industry is dependent on Russian gas and Skopje expects to be included in the South Stream project.<\/p>
The bilateral relationship between Albania and Russia is modest. Albania does not import oil or gas directly from Russia, although Russian companies are among those looking to invest in the renewal of the Albanian energy sector. Albanian exports to Russia are minimal \u2013 in 2012 they represented only 0.45 per cent of the country\u2019s total exports.<\/p>
Montenegro\u2019s bilateral trade with Russia is also small. In 2012-13, 43 per cent of Foreign Direct Investment (FDI) came from EU countries, with Russian FDI amounting to 14 per cent. However levels of Russian tourism are still substantial, with a 28 per cent share of a sector which represents 30 per cent of the economy.<\/p>
<\/p>
<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3839", "label" : {"_value" : "Biography information for Baroness Warsi"} } , "answeringMemberPrinted" : {"_value" : "Baroness Warsi"} , "dateOfAnswer" : {"_value" : "2014-07-22", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-07-22T12:14:16.0204444Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "16"} , "answeringDeptShortName" : {"_value" : "Foreign and Commonwealth Office"} , "answeringDeptSortName" : {"_value" : "Foreign and Commonwealth Office"} , "date" : {"_value" : "2014-07-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "EU Enlargement"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government what is their assessment of the amount of Russian investment in the countries of the Western Balkans which are candidates, or potential candidates, for membership of the European Union.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3496", "label" : {"_value" : "Biography information for Lord Bowness"} } , "tablingMemberPrinted" : [{"_value" : "Lord Bowness"} ], "uin" : "HL1054"} , {"_about" : "http://data.parliament.uk/resources/77321", "AnsweringBody" : [{"_value" : "Foreign and Commonwealth Office"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/77321/answer", "answerText" : {"_value" : "
In June 2013 the Shah Deniz consortium announced the selection of the Trans Adriatic Pipeline to transport Azerbaijani gas to European markets. The UK strongly supports the development of the southern gas corridor, and the then Secretary of State for Foreign and Commonwealth Affairs, my right hon. Friend the Member for Richmond (Yorks) (Mr Hague), visited Azerbaijan on 17 December 2013 to attend the Final Investment Decision (FID) signing ceremony for the second phase of the Shah Deniz gas field. We remain in close contact with governments along the route, as well as the companies involved in Shah Deniz and the Trans Anatolian and Trans Adriatic pipelines. These projects are not affected by EU sanctions against Russia.<\/p>
<\/p>
<\/p>
<\/p>
<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3839", "label" : {"_value" : "Biography information for Baroness Warsi"} } , "answeringMemberPrinted" : {"_value" : "Baroness Warsi"} , "dateOfAnswer" : {"_value" : "2014-07-21", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-07-21T13:16:40.5903661Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "16"} , "answeringDeptShortName" : {"_value" : "Foreign and Commonwealth Office"} , "answeringDeptSortName" : {"_value" : "Foreign and Commonwealth Office"} , "date" : {"_value" : "2014-07-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Natural Gas: Pipelines"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government what is their assessment of the development of the Nabucco pipeline and the Trans Adriatic Pipeline; and how they are affected by European Union sanctions against Russia.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3496", "label" : {"_value" : "Biography information for Lord Bowness"} } , "tablingMemberPrinted" : [{"_value" : "Lord Bowness"} ], "uin" : "HL1055"} , {"_about" : "http://data.parliament.uk/resources/77322", "AnsweringBody" : [{"_value" : "Foreign and Commonwealth Office"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/77322/answer", "answerText" : {"_value" : "
We firmly believe that the dispute over the official name of Macedonia is a bilateral issue and therefore should not form a block to Macedonia opening EU accession negotiations. We continue to encourage both sides to engage with the UN process to find a mutually accepted solution as soon as possible.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3839", "label" : {"_value" : "Biography information for Baroness Warsi"} } , "answeringMemberPrinted" : {"_value" : "Baroness Warsi"} , "dateOfAnswer" : {"_value" : "2014-07-22", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-07-22T12:11:24.1196134Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "16"} , "answeringDeptShortName" : {"_value" : "Foreign and Commonwealth Office"} , "answeringDeptSortName" : {"_value" : "Foreign and Commonwealth Office"} , "date" : {"_value" : "2014-07-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Macedonia"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government what steps they are taking to bring about a resolution of the dispute between the Former Yugoslav Republic of Macedonia and Greece to allow the candidature for European Union membership of the FYROM to progress.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3496", "label" : {"_value" : "Biography information for Lord Bowness"} } , "tablingMemberPrinted" : [{"_value" : "Lord Bowness"} ], "uin" : "HL1056"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 3, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }