The United States has imposed sanctions on Serbia’s oil company NIS, citing Russia’s use of the refinery to fund its war efforts. Outgoing U.S. Ambassador to Serbia, Christopher Hill, revealed the decision aims to curtail Russia’s financial channels fueling the conflict in Ukraine and restore Serbia’s sovereignty over its energy sector.
Speaking on Insider TV, Hill highlighted longstanding concerns about Russia’s purchase of Serbia’s only major oil refinery. “Russia began exploiting the refinery not only for economic gain but to finance its war machine. This undermines Serbia’s sovereignty over its resources and poses significant geopolitical risks,” Hill stated.
The sanctions come with a 45-day deadline for Russia to divest from NIS. Hill assured flexibility if Serbia demonstrates a clear plan to transition to local management, adding, “This is not about strict timelines but ensuring Serbia regains control of its oil industry.”
Hill underscored the broader implications of Russian energy influence, emphasizing that profits generated in Serbia were redirected to support Moscow’s war in Ukraine. “The oil industry in Serbia should be managed by Serbians, not by external powers like Russia,” he said.
The sanctions are part of broader U.S. efforts to weaken Russia’s capacity to sustain its military aggression in Ukraine. With the February 25 deadline approaching, Serbia faces mounting pressure to realign its energy sector management and reduce dependence on Russian ownership.
