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Serbia Fears Energy Supply From December

OIL

Serbia is considering retaking majority control of its main oil company NIS from Russia’s Gazpromneft to avoid falling under Russian sanctions from December, the Serbian president has said.

• In recent years, Serbia has imported all of its gas and up to half of its oil from Russia. Serbia receives all of its oil via Croatia’s Adria pipeline.

• From December, EU sanctions mean Croatia will be barred to transport Russian oil shipments to Serbia and NIS would no longer be allowed to do business with EU entities, if the EU overturns an exemption from a Russian ownership ban.

• “If there were other sanctions against Russian-owned enterprises, it will be a huge problem for us. We will have to act anyway…we have to secure enough oil and gas to our people”, Aleksandar Vucic said to the FT.

• Serbia is preparing new projects with Hungary to diversify energy sources, Vucic said.

Energy BulletsCommodities
Energy BulletsCommodities

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