Energy policy of Russia and in a few cases explicit political demands are evident. Starting 1 January 2007 Gazprom increased the price of natural gas to Azerbaijan from US$110 to $235 per thousand cubic metres. (At the time, Gazprom charged the EU US$250.) Azerbaijan refused to pay this price and the gas supply to Azerbaijan stopped. On its side, Azerbaijan stopped oil exports to and via Russia. A year earlier, pro-Russian Armenia was hit with the same 100% price increase as Western-oriented Georgia, Vladimir Socor has observed. The Russia-Belarus energy dispute began when Russian state-owned gas supplier Gazprom demanded an increase in gas prices
Economy of Serbia the government of Serbia, which provides both financial and tax incentives to companies willing to invest. Leading investor nations in Serbia include: Italy, United States, Austria, Norway, Greece and Germany. Majority of FDI went into automotive industry, food and beverage industry, machinery, textile and clothing. Blue-chip corporations making investments in manufacturing sector include: Fiat Chrysler Automobiles, Bosch, Michelin, Siemens, Panasonic, Continental, Schneider Electric, Philip Morris, LafargeHolcim, Pepsico, Coca-Cola, Carlsberg and others. In the energy sector, Russian energy giants, Lukoil and Gazprom have made large investments. The financial sector has attracted investments from Italian banks such as Intesa Sanpaolo and UniCredit,