"Russia is still our partner country despite the sanctions that had been imposed against Russia and that have negative consequences primarily in relation to those who imposed them, in other words to the European Union," Dodik said.
All Bosnia and Herzegovina's joint projects with Russia, including the construction of a gas pipeline in Republika Srpska, will be continued, Milorad Dodik added.
"Of course, the conversation about energy was in the first place. We have come to the conclusion that all our projects, including gas and the construction of a gas pipeline and thermal power plants in the Republika Srpska [will be continued]," Dodik said.
Cooperation with Russia in the gas sector is progressing well and should only be continued and improved, the leader added.
On Tuesday, the Bosnian Serb leader held a meeting with Russian President Vladimir Putin as part of his visit to Moscow.
On February 24, Russia began a military operation in Ukraine, responding to calls for help from the breakaway republics of Donetsk and Lugansk.
The West responded by imposing comprehensive sanctions against Russia, with the EU pledging to end its dependence on Russian energy supplies. The bloc has already approved seven packages of sanctions against Moscow, including a gradual phase-out of Russian oil.
In September, G7 finance ministers also confirmed their intention to impose price caps for Russian oil and called on all nations to support the initiative. The price cap is scheduled to take effect on December 5, 2022, for crude oil and on February 5, 2023, for refined products coming from Russia.
Moscow, in turn, has pledged to altogether stop exporting Russian oil to the countries that impose the price cap.
Moscow, in turn, has pledged to altogether stop exporting Russian oil to the countries that impose the price cap.