MOSCOW, Nov 25 — Russian President Vladimir Putin told his Serbian counterpart today he expected a new deal on gas supplies to Serbia could be reached when the existing one expires at the end of the year.

Serbian President Aleksandar Vucic asked Russia last month for "favourable” gas prices, which have jumped in recent months as global demand has recovered from the depths of the pandemic.

"I think we will be able to agree (on a new contract), we will assign our business entities to finish this work,” Putin told Vucic at a meeting in the Russian Black Sea resort of Sochi.

"In any case, we will find a solution that will definitely be acceptable for our Serbian friends,” he said.

TASS news agency reported last week that Vucic sought to buy some 3 billion cubic metres of Russian gas annually for the next 10 years, covering almost all its gas needs. — Reuters