NIS gas stations have been operating under their usual system this morning since the U.S. sanctions were imposed on the oil company. Payment operations are still functioning, and fuel can still be paid for in cash, with Dina cards, and using the “IPS show” option on banking mobile apps.
Due to the U.S. sanctions against NIS, Serbia’s financial system faces the risk of secondary sanctions that could affect the National Bank as well as commercial banks doing business with this oil company, N1 reports.
Serbian President Aleksandar Vučić stated last week that Serbia, at its own risk, would allow payment operations with NIS until the end of that week.
“The second payment operations with NIS stop – and today we agreed, at our own risk, at the risk of the Republic of Serbia, at the risk of our central bank being sanctioned, at the risk of our commercial banks being sanctioned, to secure payment operations until the end of the week – after that, we will measure day by day, because we want to avoid the complete destruction of our financial system,” Vučić warned in his address to the public on Tuesday.
Secondary sanctions, he explained, would apply to Serbia’s entire financial system.
“Any commercial bank can be punished at any moment for doing business with NIS. Our central bank, for failing to issue a binding instruction to cease working with a sanctioned company, can receive secondary sanctions at any moment, which is a catastrophe for our investment rating, a catastrophe for the functioning of our entire financial system,” Vučić stated at the time.
A new week has begun, and as N1’s reporter from one of the NIS stations reports, payment operations are still functioning. There are no crowds, drivers are refueling normally, and employees at the station told her that payment is still possible in cash, with Dina cards, and via the “IPS show” option on banking mobile apps.
As a reminder, due to U.S. sanctions against NIS, which have been in effect for 60 days, the Pančevo Refinery halted operations last week, and due to the mentioned risk of secondary sanctions, the cessation of payment operations with this oil company is also expected.
A meeting of the teams for energy stability and national security with President Vučić will be held today at the Presidency of Serbia on Andrićev venac, after which more information regarding the sanctions against NIS is expected.
The U.S. imposed sanctions due to the majority Russian ownership in the Petroleum Industry of Serbia, demanding a complete withdrawal of the Russian side. According to reports from NIS, negotiations on changing the ownership structure of the company are allegedly underway, and the Serbian state previously set a deadline for this process to be completed by January 15. Otherwise, as stated, Serbia will offer the Russian side “the best possible price” and buy out the company.
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Author: Nova.rs; Foto: Naftna Industrija Srbije