US EditionSerbia Weighs Seizing Oil Refinery Amid US Sanctions
- At an emergency government meeting, Aleksandar Vucic warned Serbia seeks an exit from US sanctions and urged Russian shareholders of NIS to sell rather than force nationalisation.
- Saturday, Washington rejected a request to ease sanctions affecting NIS and told Serbia all Russian shareholders must exit for measures to be lifted.
- Company representatives warned crude reserves will run out after November 25 and said NIS has been unable to procure supplies since the US Office for Foreign Assets Control cut its supply route through Croatia on Oct. 9.
- Energy Minister Dubravka Djedovic-Handanovic said Belgrade faces a stark choice between seizing NIS or risking a crude shortage, and the government will meet on Sunday with President Aleksandar Vucic and top corporate executives to discuss options.
- As an EU candidate, Serbia faces political constraints as Russian owners seek a license extension from Washington while negotiating transfers to Asian and European potential buyers.
92 Articles
92 Articles
US Refusal Pushes Serbia to Weigh Seizing NIS, Minister Says
The steadfast US stance on sanctions against Serbia’s sole refiner, NIS AD, has left Belgrade facing a stark choice: seize the company from Russia, or risk running out of crude, said Energy Minister Dubravka Djedovic-Handanovic.
In view of the US sanctions against the Serbian oil company NIS, Belgrade is wrestling for a solution for the company controlled by the Russian Gazprom Group. He wants Serbia "at any cost to avoid confiscation, nationalization or confiscation of property," said Serbian President Aleksandar Vucic on Sunday in Belgrade. "We don't want to take anything away from anyone," said Vucic. "I want us to take advantage of all possibilities before we commit…
US demands complete Russian exit from Serbia's NIS to lift sanctions
The United States is demanding a complete Russian exit from Serbia’s state oil company Naftna Industrija Srbije (NIS), more than 56% of which is owned by Gazprom. Only then could sanctions against NIS be lifted, Serbia’s Energy Minister Dubravka Djedovic-Handanovic said. Serbian authorities opposed nationalizing NIS “The U.S. administration for the first time clearly and unambiguously stated that it wants a complete change in NIS’s ownership str…
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