The temporary reprieve is set to last until late January, Belgrade has said
Serbia has secured a temporary exemption from US sanctions imposed on the nation’s only oil refinery, which is majority-owned by Russian energy giant Gazprom, Serbian Energy Minister Dubravka Dedovic has announced.
The Petroleum Industry of Serbia (NIS) said early in December it was forced to suspend operations at its only refinery due to a shortage of crude oil, triggered by the sanctions. The US imposed restrictions on the company early in October after repeatedly postponing the move for months.
NIS is a leading Balkan energy company with a major refinery located in Pancevo, near Belgrade, and a regional network of over 400 petrol stations. Russia’s Gazprom Neft is the largest shareholder with some 45%, with a further 30% held by the Serbian state.
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