Serbian oil company NIS, partly owned by Russia, failed to obtain another waiver from US sanctions. This jeopardizes fuel procurement for the country's only oil refinery.
The Russian-controlled Serbian oil company NIS failed to obtain another waiver from US sanctions, the company said on Thursday, putting at risk fuel procurement for the Balkan country's only refinery and largest importer, Reuters reports, writes UNN.
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The US sanctioned NIS, one of the last remaining Russian energy assets in Europe, in January, as part of a broader strategy to isolate Russian energy assets.
A series of waivers delayed the implementation of sanctions until Thursday, when NIS said no further waivers were expected.
"The special license from the US Treasury Department, which ensures uninterrupted operations, has not yet been extended," the company said in a statement.
Gazprom Neft owns 44.9% of NIS shares, and Gazprom's investment arm owns about 11.3%. The Serbian government's share is 29.9%.
NIS, which supplies gasoline to approximately 350 gas stations in Serbia, tried to reassure consumers on Thursday. The company said it had secured enough oil to continue operating its refinery in Pančevo, near Belgrade, with an annual capacity of 4.8 million tons.
The company's retail sales director, Bojana Radojević, said that gas stations would continue to operate as usual.
"There are no restrictions on the amount of fuel people can take, so there is no need to hoard," Radojević said.
In its statement, NIS noted that customers would be able to use dinars (local currency) after international credit card payments ceased. The company said it would fulfill contractual obligations to business partners.
According to a trader, NIS provides about 80% of Serbia's diesel and gasoline needs, as well as over 90% of its aviation fuel and fuel oil needs.
Serbia imports oil through the JANAF pipeline from Croatia. On Wednesday, JANAF said that the US had extended its license to transport oil to Serbia until October 15. However, it is not yet clear whether NIS will be allowed to accept additional deliveries.
Serbian oil company linked to Russia given only 4-day sanctions reprieve25.09.25, 23:58 • 5132 views
