Aleksandar Vucic (BETAPHOTO/Predsednistvo Srbije/Dimitrije Goll)
On Nov. 25, Serbian President Aleksandar Vucic is set to deliver bad news about the US sanctions against oil and gas company Naftna Industrija Srbije (NIS), which took effect on Oct. 9, pro-regime media have reported.
The sanctions were imposed over Russia’s majority stake in NIS, and Serbia has meanwhile asked Washington to extend the license to the company while negotiations on selling Russian controlling stake to potential buyers are ongoing.
Based on the hints that Serbia has not received good news, Washington has likely rejected Belgrade request, which could see the NIS refinery in Pancevo cease operations on Nov. 25, as earlier statements indicated it will have enough crude oil to work until this date.
This means that Serbia will have to import more oil derivatives, the issue Energy Minister Dubravka Djedovic Handanovic discussed on Nov. 24 in meetings with representatives of oil companies MOL, Eko Serbia and OMV Srbija, the biggest suppliers of oil derivatives in Serbia, apart from NIS.
In case future imports of oil derivatives will not be sufficient to meet the needs of businesses and households, Serbia will have to resort to nationalizing Russian assets in the company, a move that the US would consider enough to lift sanctions against NIS.
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