Minister of Mining and Energy Dubravka Đedović Handanović stated today that the Serbian government is working diligently to prevent the negative effects of the announced sanctions on oil company Naftna Industrija Srbije (NIS), with the situation being monitored daily.
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Dedicated efforts to prevent consequences of announced sanctions on NIS
Belgrade,
11 February 2025
Đedović Handanović, who chaired the meeting of the Working Group Monitoring the Activities of the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), said that NIS’ operations are being monitored daily, but that the situation is not at all simple, given that the positions of the US and Russian sides remain very distant.
At present, we are considering two or three possible scenarios, while also closely monitoring the market situation and prices to maintain supply stability, the Minister emphasised.
She recalled that NIS has sent an official request to OFAC for a postponement of sanctions, which was officially supported by Serbia and Hungary, given the importance of NIS for oil supply, but also for the economy in the region.
We have received additional clarifications from the US administration and continue discussions with the U.S. Department of the Treasury, and this week we anticipate further steps from the Russian side, said Đedović Handanović.
Author:
Nenad Kostić
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