The United States has placed sanctions on the Serbian oil company NIS, which is partly owned by Russia’s Gazprom Neft. The move is a response to Serbia’s refusal to join EU and US sanctions against Russia over the Ukraine war.
Serbian President Aleksandar Vu?i? said the sanctions were related to NIS’s ties with Gazprom Neft, despite pressure from the West. The U.S. State Department confirmed the sanctions but did not provide full details. Christopher Hill, the U.S. Ambassador to Serbia, said the sanctions are part of the broader U.S. effort to target Russian economic activities that support the war in Ukraine.
NIS has not been directly affected by the sanctions, and the company continues its operations in Serbia. However, Serbian experts warn that these sanctions could disrupt the country’s oil imports, as Serbia relies on the JANAF pipeline, which is mainly owned by Croatia. This could affect Serbia’s fuel supply for weeks.
Serbia has long remained neutral in the Russia-Ukraine conflict. Vu?i? has said that Serbia will not change its position and might reduce Gazprom Neft’s stake in NIS to below 50% to avoid further sanctions.
Even with the sanctions, Russia remains a key player in Serbia’s energy sector, and Serbia is looking for alternative oil sources from countries like Azerbaijan, Iraq, and Kazakhstan.
