Serbia's Strategic Moves Amid U.S. Sanctions on NIS

Serbia's President Aleksandar Vucic committed to safeguarding the nation's interests amid U.S. sanctions on Serbia-based, Russia-owned oil company NIS. Despite halted crude supplies and market shifts, Vucic assured no energy crisis will occur. The sanctions resulted from Russia's 2022 invasion of Ukraine.

In the face of newly implemented U.S. sanctions against the Serbia-based, Russia-owned oil company NIS, Serbian President Aleksandar Vucic has vowed to protect the country's interests. The sanctions were announced due to Russia's invasion of Ukraine in 2022, but delays kept them at bay until recently.

President Vucic addressed the situation, emphasizing that Serbia will take all necessary strategic steps to ensure stability and secure energy supplies. He highlighted communications with Russian counterparts, including discussions with Gazpromneft's CEO and Russia's deputy energy minister.

Despite the halt of crude supplies by neighboring Croatia's JANAF pipeline, Vucic reassured the public of an uninterrupted oil flow post-November 1. Meanwhile, foreign oil companies have begun arranging alternative supply routes, and Hungarian firm MOL plans to increase its deliveries to Serbia.

(With inputs from agencies.)