Serbian President Aleksandar Vučić announced that Serbia expects the arrival of the first 85,000 tons of crude oil no later than January 15, enabling the Pančevo Oil Refinery to resume operations by mid-January.
Speaking after a meeting of the National Security Council, Vučić stated that refinery operations are expected to restart on January 17 or 18, with the production of petroleum derivatives beginning around January 25 or 26.
Urgent Call for Agreement to Exit Sanctions Regime
Vučić urged the leadership of Gazprom, NIS, and Hungarian partners to finalize a purchase and sale agreement as soon as possible, stressing that such a deal is crucial for Serbia to exit the sanctions regime currently affecting its energy sector.
“For us, maintaining peace is essential, and we will succeed in that. When it comes to energy security, we expect the first 85,000 tons to arrive by January 15 at the latest. Payment will be made on January 5, delivery by January 13 or 15, refinery operations on January 17–18, and fuel production by January 25–26,” Vučić said.
Sanctions Still Loom Over Serbia’s Economy
The Serbian president emphasized that sanctions against NIS continue to pose a serious challenge, alongside restrictions affecting the Chinese company Linglong, which employs between 1,300 and 1,400 workers in Serbia.
“These are pressures we must confront, and we will overcome them,” Vučić said, adding that resolving ownership and contractual issues is essential for Serbia’s continued economic growth.
Global Energy Competition and U.S. Strategy
Vučić also commented on global energy dynamics, noting that U.S. President Donald Trump has established a new agency within the White House aimed at ensuring U.S. dominance in global energy markets.
According to Vučić, this strategy seeks to marginalize competing energy powers, particularly China and Russia, including in regions such as Southeastern Europe.
“Everywhere in the world, including here in Serbia, they will do everything to push out competing countries—above all China and Russia,” Vučić stated.
The developments come amid heightened geopolitical pressure and energy uncertainty, as Serbia seeks to secure stable oil supplies while navigating international sanctions and global power competition.
