US blocks operation of Russian-owned Serbian oil refinery: Belgrade warns of risks to fuel supplies

Serbia announced the suspension of operations at the NIS oil refinery in Pančevo after the United States denied Belgrade a license for its operation. Washington’s decision jeopardized the stability of the country’s fuel market. This is stated in the EuroNews material, writes UNN.

DetailsSerbian President Aleksandar Vučić announced that the American authorities did not allow the continuation of crude oil supplies to the plant while the Russian owners of NIS are looking for a buyer for a controlling stake. This effectively blocked production.

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We expected to receive a license from the US government to continue oil supplies to our refinery in Pančevo. But there was no positive decision. I am not only disappointed, but also surprised, because I do not understand what they gained from this.

The President emphasized that Moscow is not going to sell the company, and the situation itself is political. According to him, the American Office of Foreign Assets Control (OFAC) is not showing willingness to reconsider its position.

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Energy Minister Handanović must officially inform the NIS management about the need to stop the plant’s operations. According to Vučić’s estimates, the plant loses about 370,000 euros daily due to the current restrictions.

In addition, the head of state warned that the National Bank of Serbia and commercial banks could face the threat of secondary US sanctions if they conduct financial transactions with NIS.

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