US EditionU.S. grants temporary sanctions reprieve to Russian-controlled Serbian oil firm: Belgrade
The license allows Serbia's Pancevo refinery to operate until January 23, supplying 80% of national fuel amid ongoing negotiations for Russian shareholder exit.
- On Wednesday, the United States granted a temporary licence to Petroleum Industry of Serbia, permitting operations until January 23, enabling the Pancevo refinery to restart, Serbian Energy Minister Dubravka Djedovic Handanovic said.
- Sanctions tied to a broader Russia energy crackdown prompted the refinery's closure, as Washington's measures forced the Pancevo refinery to shut in early December, hitting Serbia hard.
- NIS's ownership is split between Russian and Serbian state interests, with Gazprom Neft holding 45%, the Serbian state nearly 30%, and Gazprom transferring an 11.3% stake to Intelligence in September.
- The reprieve reduces immediate pressure on Serbia's economy as restarting the Pancevo refinery averts fuel shortages, supplying around 80 percent of needs and protecting workers and thousands of jobs.
- Talks to sell the Russian stakes have dragged on, complicating resolution, while Viktor Orban engaged the US State Department and MOL negotiated to buy the Russian portion.
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Serbia's president expects deal between Hungary and Russia over oil company
Serbian President Aleksandar Vučić has expressed optimism that an agreement will soon be reached between Hungary and Russia regarding the Serbian oil company NIS, allowing the firm to continue its operations. Speaking on Belgrade’s public television, Vučić said he expects a swift settlement between the Russian shareholders and the potential buyer—likely Hungary’s Mol Group. U.S. sanctions and special licence The company was hit by sanctions from…
US Grants Temporary Sanctions Reprieve To Russian-controlled Serbian Oil Firm: Belgrade
The United States has granted a majority-Russian-owned Serbian oil company a temporary reprieve from sanctions targeting Moscow's invasion of Ukraine, a Serbian minister said on Wednesday.
The United States has granted a temporary licence from the Serbian oil company NIS, controlled by Russian companies and targeted by American sanctions, which will allow them to return their production until 23 January, announced Wednesday...
U.S. grants temporary sanctions reprieve to Russian-controlled Serbian oil firm: Belgrade
The United States has granted a majority-Russian-owned Serbian oil company a temporary reprieve from sanctions targeting Moscow’s invasion of Ukraine, a Serbian minister said on Wednesday.
The US has granted a temporary licence to the Serbian oil company NIS, controlled by Russian companies and targeted by American sanctions, which will allow them to manage their production until 23 January, Serbian energy minister Dubravka Djedovic Handanovic announced Wednesday.
The US government's Office of Foreign Assets Control (OFAC) has issued a license to the Adriatic Oil Pipeline (JANAF) to continue transporting oil to the Serbian Oil Industry until January 23rd of next year, the Croatian Government announced.
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