With the cessation of operations of the Pančevo Refinery, Serbia is forced to import fuel, which will certainly increase in price as a result. The only question is to establish market prices in retail, or the state will give up its profit for political reasons
The President of Serbia, Aleksandar Vučić, announced that NIS did not receive a positive decision from the USA on the extension of the work license, so the Pancevo Refinery will be shut down. Under "the risk of the entire financial system falling under US sanctions", the NBS will not terminate payment operations with the NIS until the end of the week in order to be able to pay workers' salaries
After the meetings in Belgrade, Budapest confirms that one of the options is for MOL to take a majority stake in NIS. According to the Hungarian government, talks with Serbia and other actors are already underway
The deadline of 48 hours, which Aleksandar Vučić "gave" America and OFAK to respond to the request for a license for NIS - is slowly ticking away. The same day is an American national holiday, on which, according to tradition, everyone gives thanks and gives gifts - but among friends
Considering that the gross social product of Serbia is about 80 billion euros, and Nisa's income in 2023 was about 3,4 billion, where the added value is about 300 million, the share in GDP growth is less than half a percent, but the shutdown of the refinery also affects the rise in prices, as well as the foreign exchange market and the inevitable rise in inflation
The last day to obtain a US OFAC license for NIS is approaching. The economic equation is simple - if NIS gets a license, the refinery in Pancevo continues to work, otherwise it shuts down. What happens then?
The plants of the NIS refinery in Pancevo are still operating, but they will be completely shut down in four days if the Americans do not extend the license to supply crude oil. Aleksandar Vučić gave the Russians 50 days to find a valid buyer for NIS, and if they don't do it, Serbia will place the company under state administration
The refinery is not shut down yet, but will be in four days unless the US government grants a crude oil supply license.
After the new, dramatic TV episode of the public meeting of the Government of Serbia on the American sanctions against NIS, the audience is sitting on the edge of their seats and waiting for next week with many open questions - how much time do we have, what do the authorities intend and what can be done at all? What really awaits us in the series finale
The refinery in Pancevo will soon stop, if no solution is found for the sanctions against NIS. Reserves are not enough for the winter. Threats of shortages, black market and price increases
The National Bank of Serbia received a warning about possible secondary sanctions due to doing business with NIS, Governor Tabaković revealed.
In the whole energy epic with NIS, the state is telling what is happening with a spoon. It has now emerged that the Russians have agreed to sell their ownership stake. Is it good or bad news for Serbia?
NIS submitted a new request to the US OFAC in order to ensure smooth operations during the period while negotiations on the change of ownership structure are ongoing. The director of Srbijagas, Dušan Bajatović, said that he does not see the sale of NIS to the Russians in 2008 as a bad business move, but that the Russian capital in that company must be canceled, because NIS must continue to work
The authorities of Aleksandar Vučić have not done anything on energy security for years, so they have wasted these ten months, as the sanctions against NIS were delayed, Vasko Kelić from the Center for Economic Research told Vreme. Now there are only bad options on the table
Former Minister of Mining and Energy, Zorana Mihajlović, told RTS that the country has enough fuel and storage, and that citizens should not be afraid of the current situation in NIS.
Russian experts and diplomats claim that American sanctions on NIS will not cause a collapse, but that Serbia will have to find new solutions and business models
The price of gasoline at the pumps could increase by up to 30 percent in three to four months, if Serbia does not find a solution to the NIS sanctions, an energy analyst claims for "Vreme".
After the American sanctions against NIS came into force, Serbian President Aleksandar Vučić said that the refinery in Pancevo has enough oil to operate until November 1. An extraordinary session of the shareholders' assembly has been requested, while Belgrade, Moscow and Washington hold parallel talks on the future of the oil sector in Serbia.
American sanctions against NIS came into effect at six this morning. "Vremen" reporters made sure that there were no queues at the gas stations in the first hours and that payment by card was carried out normally.
Although the state leadership and the leadership of the NIS claim that they are ready to welcome American sanctions, many problems await Serbia and its citizens
There is no more delay, the United States of America has imposed sanctions on the Serbian Oil Industry, the company's management announced
Just a few days before the expiration of the eighth suspension of sanctions, NIS submitted a new request for license extension to Washington. The decision must be made by October 8, reports RTS
Serbian President Aleksandar Vučić confirmed that the Russians are considering selling part of NIS to the Americans, but, as he added, the question is whether the American side will accept
After the Russian company NIS was covered by American sanctions, Janaf, with the support of the Croatian Government, managed to secure temporary permits for the continuation of the crude oil transport contract, the last one until October 8, 2025.
US sanctions on the Serbian oil industry have been postponed six times so far due to the Russian share in ownership, and NIS submitted a new request for the postponement of sanctions on Friday. Vučić, however, says that he is afraid that there will be no more delays
The sanctions of the United States of America against the Oil Industry of Serbia were postponed for the fifth time at the end of July, so the country got another month of uninterrupted operations of one of the most important strategic companies in the country.
Sanctions against NIS were postponed again for 30 days, until August 27.
