Serbian President Aleksandar Vučić announced that the United States has extended sanctions on Serbia’s oil industry for an additional 30 days. The announcement was made via Instagram, where Vučić expressed gratitude for the support from the Serbian people and American partners.
The sanctions, initially set to take effect in January, targeted the Serbian oil company NIS (Naftna Industrija Srbije) due to its significant stake in Russian company Gazprom Neft. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed the sanctions to prevent Russia from using energy sector revenues to fund its war in Ukraine.
Originally set to expire at the end of February, the sanctions were extended until today, and the U.S. has agreed to a further 30-day delay. The majority of Serbia’s crude oil is delivered through a pipeline operated by Croatia’s JANAF, which, according to U.S. regulations, must cease its cooperation with NIS to avoid sanctions.
Vučić hailed the extension as a success, stating that Serbia is successfully maintaining stability and continuing on its path toward success.
