The US Treasury Department has postponed imposing sanctions on the Serbian oil industry (NIS) for 30 days for the fifth time, according to the Serbian government's official newspaper Politika.
"At this point, it was not possible to achieve a longer postponement. This is a matter of global politics and relations and negotiations between world powers, which are very complex. Serbia has managed to avoid collateral damage thanks to the postponement so far, but the situation is still very uncertain. We will continue to protect the interests of our citizens and the economy," said Serbian Minister of Mining and Energy Dubravka Jedovic Handanovic.
The minister said that concrete measures are being taken to reduce uncertainty in NIS's operations.
"The sanctions were postponed through difficult and persistent diplomatic efforts between members of the government and the president of Serbia, but the most important thing is that we managed to secure another, fifth postponement. This is important and useful news for the citizens of Serbia, as they will not suffer any consequences, as has been the case until now. Despite the complex circumstances in which it operates, NIS continues to regularly supply the domestic market with all types of petroleum products and remains committed to maintaining energy stability," Handanovic emphasized.
He expressed his gratitude to the Hungarian government for its support for NIS.
"For us as a country, the most important thing is to maintain stable supplies of petroleum products, and the ultimate goal is for NIS to be removed from the sanctions list of the Office of Foreign Assets Control. For this, progress in the dialogue between the US and Russia is most important," the minister concluded.
On January 10, the US added NIS to its list of sanctioned companies due to the fact that the Russian state-owned company Gazprom Neft owns a stake in the company. According to Washington, the measure aims to limit Russia's use of energy revenues to finance the war in Ukraine.
Gazprom and its subsidiary Gazprom Neft own 56.15% of NIS shares, with the remainder owned by the Serbian state.
In 2008 Serbia sold 51% of NIS to Gazprom Neft for €400 million. In May 2022, the Russian holding company transferred 6% of this stake back to Gazprom, the parent company, which is not subject to EU sanctions.
NIS is the only company in Serbia that explores, produces, and processes oil at the Pančevo refinery, which is also owned by Gazprom Neft, as well as producing natural gas. | BGNES