Restrictions on NIS, the country’s sole refinery, could trigger a national energy crisis, President Aleksandar Vucic has warned
US sanctions on Serbia’s Russian-majority-owned oil company, NIS, have been activated, prompting neighboring Croatia to halt crude deliveries and raising the risk of a shutdown at Serbia’s only refinery.
Washington had granted Belgrade several temporary exemptions from restrictions imposed in January on NIS (Petroleum Industry of Serbia), in which Russia’s Gazprom and Gazprom Neft hold a majority stake. The most recent waiver, issued on October 1, was valid for only one week.
NIS confirmed Thursday that the US Treasury…
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