BELGRADE – Serbian President Aleksandar Vučić stated today that the United States has not yet issued a decision on extending the license for the operations of the Serbian Petroleum Company (NIS), which has been under US sanctions since 9 October due to its majority Russian ownership.
Without a license extension, the Pančevo oil refinery operated by NIS, which supplies most of the Serbian market, will face a complete shutdown because of a lack of crude oil for processing.
NIS is still awaiting a response from US authorities to its request to continue operations while negotiations continue over the purchase of the Russian stake in the company.
“Russia does not want to sell its stake in NIS. It’s not about money, it’s about politics,” Vučić said at press conference following a meeting with teams responsible for the country’s energy stability and security.
Vučić said that Energy Minister Dubravka Đedović Handanović would inform NIS of the situation, and that authorization had been given for the Pancevo refinery to halt operations.
“NIS will decide whether the refinery stops today or in the coming days,” Vučić stated.
At 25 November, Serbian Government adopted a decision giving Russia 50 days to find a buyer for its stake, after which the state will impose its own management at NIS and offer the Russian side “the highest possible price” for the company.
Neither the US nor Russia has publicly released information on the state of negotiations. Citizens have been receiving updates primarily from Serbian officials- most of all from President Aleksandar Vučić.
