Energy Minister: Belgrade Seeks from the US another Delay of Sanctions against Oil Company NIS

Christopher Hill, Dubravka Djedovic Handanovic, Kladovo, July 15 2024 (BETAPHOTO/MINISTRY OF MINING AND ENERGY OF SERBIA/Emilija Jovanovic)

Energy Minister Dubravka Djedovic Handanovic on June 24 said that the Government had submitted a letter to the Office of Foreign Assets Control, (OFAC) of the US Department of the Treasury, to support the request of oil and gas company Naftna Industrija Srbije (NIS) for extending the duration of the existing operations license for NIS, expiring on June 27, for another 180 days, for to ensure uninterrupted supply of oil and oil derivatives in Serbia.

Global interruptions in supply chains, “combined with potential sanctions against NIS, could be the worst way to jeopardize Serbian’s energy security, which would produce negative impacts on our citizens and also citizens across the region,” Djedovic Handanovic said, according to a release from her Ministry. She added that the Serbian Government had informed the US administration about all these issues, and had asked for another delay of sanctions. 

The minister recalled that Serbia had managed to delay implementation of sanctions against NIS on three occasions. “The utmost goal is to ensure sufficient oil to the refinery and its operation, which in turn ensures uninterrupted supplies to citizens and businesses. We will continue to talk with both sides in order to preserve the stability of Serbia’s energy system, while we are well aware that Serbia has not done anything to contribute to sanctions against NIS,” she said.