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Serbia Faces Oil Refinery Shutdown as US Sanctions Deadline Looms
Sanctions on Russian-majority-owned Petroleum Industry of Serbia have cut crude supplies, risking shutdown of Pancevo refinery supplying 80% of Serbia's fuel, officials warn.
- On Tuesday, Serbian President Aleksandar Vucic said the Pancevo refinery, Serbia's only oil refinery, operates at 'warm circulation' and faces a complete shutdown in four days due to crude supply cuts.
- The sanctions, enforced starting Oct. 9, and Washington's demand for full Russian divestment from NIS gave owners until February 13 to find a buyer.
- Holding 44.9 and 11.3%, Gazprom Neft and Gazprom hold a controlling stake, while Serbia owns 29.9%, experts cited by AFP say imports are temporary.
- The Serbian government said it would install its own management and offer the highest price, or buy the company if talks fail, while Aleksandar Vucic warned of huge economic flow-on effects.
- Parallel talks on gas supplies continue as Russia offers only short-term contracts in recent months, while last week NIS filed for a temporary U.S. exemption amid halted payments and JANAF pipeline stoppages.
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17 Articles
17 Articles
In October, the U.S. government imposed sanctions on the Russian majority owner. Serbia had requested a provisional exception
·Vienna, Austria
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Only Serbia's oil refinery, which provides a large part of the country's fuel, faces a complete closure in a few days, said President Alexander Vucic in March, after the US sanctions on the Russian majority owner...
·Romania
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Serbia's Only Oil Refinery Days Away From 'Complete Halt'
Serbia's only oil refinery, which supplies much of the country's fuel, faces a complete shutdown within days, President Aleksandar Vucic said Tuesday, after US sanctions over its majority Russian ownership cut off crude supply.
·New York, United States
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Total News Sources17
Leaning Left3Leaning Right1Center3Last UpdatedBias Distribution43% Left, 43% Center
Bias Distribution
- 43% of the sources lean Left, 43% of the sources are Center
43% Center
L 43%
C 43%
14%
Factuality
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