U.S. Delays Sanctions on Serbia’s Russian-Linked Oil Industry for Sixth Time
The United States has postponed sanctions against Serbian oil company NIS, owned by Russia's Gazprom Neft, for the sixth time, allowing it to continue operating Serbia's only oil refinery and ensuring stable oil supplies for the entire country.
The Gaze reports on it, referring to Reuters.
Serbian Energy Minister Dubravka Jedovic Handanovic said the waiver would apply until September 26.
“The goal is the removal of NIS from the U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctions list,” she added.
It is worth recalling that Washington imposed sanctions against the Russian oil sector on January 10, giving Gazprom Neft 45 days to divest itself of NIS. The company is owned by Gazprom Neft (44.9%), Gazprom (11.3%) and the Serbian government (29.9%) and operates the only oil refinery in Pančevo, located near Belgrade.
The plant has an annual capacity of 4.8 million tons and covers most of Serbia's needs for petroleum products, so any restrictions threaten not only the domestic market but also the transit of crude oil through neighboring countries, in particular the Croatian company Janaf, which is a key logistics hub.
In February, Gazprom Neft transferred part of its shares to Gazprom (about 5.15%) in an attempt to minimize the risks of sanctions.
At the same time, the Serbian authorities actively sought a postponement of the restrictions from Washington, arguing that the plant was strategically important for the energy security of the country and the region.
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