Serbian President Aleksandar Vucic has stated that the United States will officially announce its decision to impose comprehensive sanctions against the majority Russian-owned oil company NIS before January 15, 2025. Vucic warned that these sanctions could disrupt oil supplies and have a significant impact on Serbia’s economy.
The President highlighted that the sanctions may create challenges for key industries, including the Pancevo oil refinery, artificial fertilizer producer Petrohemija, and other major enterprises, potentially leading to a difficult situation for the country. To address these challenges, he proposed forming two teams under the coordination of Prime Minister Milos Vucevic. Vucic also announced plans to discuss NIS and gas agreements with Russian President Vladimir Putin later in January.
Vucic emphasized that this is a serious challenge for Serbia, particularly in the context of the current geopolitical situation, which could bring additional difficulties. He noted that if Serbia were to buy out the Russian-owned stake in NIS, the funds would ultimately contribute to the ongoing war effort. Earlier in December, Vucic had announced that sanctions against NIS would be introduced on January 1, 2025.
