US EditionOil refinery shutdown could cost Serbia for years, experts warn
Shutdown risks thousands of jobs and forces Serbia to increase costly fuel imports, with NIS contributing nearly 12% of state revenue last year, experts warn.
- On Tuesday, the Petroleum Industry of Serbia shut its refinery after being unable to receive crude since October 9 due to US sanctions on its Russian majority owners.
- Serbian President Aleksandar Vucic warned, 'if we do not obtain a contract by Friday,' the government will consider buying NIS with a budget of 1.4 billion euros ,
- NIS's role as one of the country's largest employers—with over 13,500 staff—and its operation of around a fifth of petrol stations means shutdowns threaten jobs and station closures.
- The government temporarily allowed NIS access to payment systems until at least the end of the week to pay wages and suppliers, while Dejan Soskic warned blacklisting would 'mean the end of normal business conditions'.
- Its operating licence expires on December 13, with no sign of renewal, while experts told AFP the fallout could last years, threatening jobs and public finances.
43 Articles
43 Articles
The arrest of Serbia's only refinery, following the US sanctions against the Russian shareholders of the Serbian oil company NIS, could have major economic consequences The arrest of Serbia's only refinery since Tuesday could have consequences for several years, endanger thousands of jobs and deprive the state of significant revenues, warns several experts.Since 9 October, NIS, Serbia's main oil company, has been subject to US sanctions against …
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Oil refinery shutdown could cost Serbia for years, experts warn
The fallout from the shutdown of Serbia's only oil refinery could last years, experts told AFP, putting thousands of jobs and the state's budget at risk -- as well as exposing the country to further sanctions.
According to the order of President Alexander Vuccic of Serbia, on 3 December the only oil refinery in the country began to stop. The PNP, the Serbian Petroleum Industry (NIS), has been under American sanctions since January 2025. The result will be not only economic and financial crises, but also the threat of deepening the political crisis that threatens to replace existing power. Why has the problem of one enterprise resulted in such conseque…
The FBiH Also Secure In Fuel Supply Despite Sanctions On Serbian Oil Refinery
The sanctions that the United States (U.S.) imposed on the Serbian Oil Refinery in Pancevo will not significantly affect the fuel supply in Bosnia and Herzegovina (BiH), said Merima Maslo, adviser to the Federation’s Minister of Trade, commenting on the information that the refinery has been left without crude oil for processing. Maslo emphasized that […] The post The FBiH Also Secure In Fuel Supply Despite Sanctions On Serbian Oil Refinery appe…
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