BELGRADE: The United States has for the sixth time postponed sanctions on Serbia’s Russian-owned oil company NIS, which operates the only oil refinery in the Balkan country, a Serbian official who asked not to be named said on Tuesday.
The official said without elaborating that the waiver would stand for one month.
The U.S. Treasury’s Office of Foreign Assets Control initially placed sanctions on Russia’s oil sector on January 10, and gave Gazprom Neft 45 days to exit ownership of NIS.
U.S. Treasury Department officials did not immediately respond to Reuters requests for comment.
NIS – in which Gazprom Neft owns a 44.9% stake, Gazprom 11.3% and the Serbian government 29.9% – operates Serbia’s sole refinery, in the town of Pancevo, just outside of Belgrade.
Gazprom Neft transferred a stake of around 5.15% in NIS to Gazprom on February 26 in an attempt to ward off sanctions.
The Pancevo facility has an annual capacity of 4.8 million tons and covers most of the Balkan country’s needs, and sanctions could jeopardise its supply of crude via Croatia’s Janaf. – Reuters
