Serbia’s state-owned company, Naftna Industrija Srbije (NIS), has formally requested the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) to postpone sanctions for at least 90 days. The request aims to allow NIS to maintain its operations while seeking a sustainable solution to its ownership structure and management, reports VOA
According to Dubravka Đedović Handanović, the Minister of Mining and Energy, this request is supported by both the Serbian and Hungarian governments, emphasizing NIS’s regional strategic importance for energy stability. The Serbian government has expressed concern that sanctions could disrupt the company’s ability to supply oil and petroleum products to Serbian citizens.
Minister Đedović Handanović confirmed that the company’s employees and the public should not be alarmed, as the government will continue to protect Serbia’s interests. She also reassured that U.S. officials have made it clear that sanctions are not aimed at Serbia or its citizens, but rather at Russian interests tied to NIS.
On January 10, OFAC imposed sanctions on Russian energy companies Surgunjeft and Gazprom Neft, along with their subsidiaries, in an effort to reduce Moscow’s revenue from energy sales used to fund the war in Ukraine. The sanctions were later also adopted by the UK.
U.S. Deputy Secretary of State for Management and Resources, Richard Verma, during his visit to Belgrade, clarified that the sanctions are directed at Russia, not Serbia, stressing that the U.S. would not impose any economic consequences on Serbia if Russian ownership in NIS is removed.
Currently, Gazprom Neft holds a 50% stake in NIS, and due to earlier sanctions, it sold 6.15% of its shares to Gazprom.
