The temporary relief measure is scheduled to remain in effect until the end of January, according to Belgrade
Serbia has obtained a temporary waiver from US sanctions that were placed on the country’s sole oil refinery, which is majority-owned by Russian energy major Gazprom, Serbian Energy Minister Dubravka Dedovic has revealed.
In early December, the Petroleum Industry of Serbia (NIS) stated it had to halt operations at its only refinery because of a crude oil shortage caused by the sanctions.
Washington introduced restrictions on the company at the start of October, following several months of delays.
NIS is a prominent energy firm in the Balkans, operating a large refinery in Pancevo, near Belgrade, and a network of more than 400 petrol stations across the region. Russia’s Gazprom Neft is the biggest shareholder with approximately 45%, while the Serbian government holds an additional 30%.
The Serbian energy minister described the waiver as a significant success that at first “appeared nearly impossible” to achieve.
“NIS has received a license from the US OFAC permitting it to keep operating until January 23. This enables the Pancevo refinery to restart its operations,” Djedovic said, commending the persistent work of the nation’s diplomats to restore the vital facility.
This news follows a confirmation from Russia’s Ambassador to Serbia, Aleksandr Botsan-Kharchenko, that Gazprom Neft has been in talks to sell its stake to protect NIS from US sanctions. The diplomat gave the comments in a Wednesday interview with RIA Novosti. The ambassador declined to offer more specifics, noting that he was not personally involved in the current discussions.