{"id":167427,"date":"2025-02-27T11:02:29","date_gmt":"2025-02-27T09:02:29","guid":{"rendered":"https:\/\/serbiantimes.info\/en\/?p=167427"},"modified":"2025-02-27T11:02:30","modified_gmt":"2025-02-27T09:02:30","slug":"america-grants-a-reprieve-sanctions-on-serbias-oil-industry-delayed-for-at-least-30-days","status":"publish","type":"post","link":"https:\/\/serbiantimes.info\/en\/america-grants-a-reprieve-sanctions-on-serbias-oil-industry-delayed-for-at-least-30-days\/","title":{"rendered":"AMERICA GRANTS A REPRIEVE: Sanctions on Serbia\u2019s oil industry delayed for at least 30 days!"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Sanctions against <strong>Serbia\u2019s Oil Industry (NIS)<\/strong>, due to <strong>Russian ownership shares<\/strong>, have been <strong>postponed for 30 days<\/strong>, Serbian President <strong>Aleksandar Vu\u010di\u0107<\/strong> announced on his <strong>Instagram account<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The sanctions were <strong>set to take effect today<\/strong>, but <strong>the U.S. granted Serbia a last-minute reprieve<\/strong>, delaying their implementation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yesterday afternoon, news broke that <strong>Gazprom Neft reduced its ownership stake to 44.85%<\/strong>, transferring <strong>six percent of its shares free of charge<\/strong> to its <strong>parent company Gazprom<\/strong>, a <strong>Russian firm not under sanctions<\/strong>. It remains <strong>unclear<\/strong> whether this <strong>mostly cosmetic change<\/strong>, given that the two companies are connected, influenced the <strong>U.S. decision to hold off on sanctions<\/strong>, even though it formally meets the criteria.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Dubravka \u0110edovi\u0107 Handanovi\u0107<\/strong> reassured the public that even if the sanctions take effect, there is <strong>no reason for fear or panic<\/strong>, despite the fact that NIS <strong>covers 80% of the market<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201c<strong>Tomorrow is not D-Day, nor will anything drastic happen.<\/strong> Working groups continue their efforts, and we are in discussions with both sides. The government has <strong>multiple plans and scenarios<\/strong> in case the sanctions are not postponed. Serbia has already started increasing its reserves\u2014mandatory reserves have grown by <strong>over 50% in the past two and a half years<\/strong>. We now have enough for about <strong>three months<\/strong>, but the goal is not to use them,\u201d <strong>\u0110edovi\u0107 Handanovi\u0107<\/strong> stated, adding that <strong>citizens can continue refueling as usual<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the minister\u2019s reassurances, <strong>not everyone is convinced<\/strong>. Economist <strong>Goran Radosavljevi\u0107<\/strong> warned that if sanctions are imposed, <strong>NIS would struggle to function<\/strong> if it falls under <strong>any kind of financial blockade<\/strong>. He explained that <strong>banks freezing accounts or calling in debts<\/strong> could lead to serious disruptions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cNIS controls <strong>80% of the wholesale and retail fuel market<\/strong>. If you <strong>cannot buy fuel from NIS<\/strong>, even if the fuel <strong>physically exists<\/strong>, access will be difficult. I hope the government has considered this and developed a <strong>Plan B<\/strong>. There\u2019s no need to panic, but we must be <strong>realistic<\/strong> and prepare for the next <strong>30, 90, or even 180 days<\/strong>, depending on how long the sanctions might last. <strong>No one can predict how long this situation will continue,<\/strong>\u201d Radosavljevi\u0107 told <strong>Nova.rs<\/strong> yesterday, before it was confirmed that sanctions would be delayed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Minister <strong>Handanovi\u0107<\/strong> stated that <strong>Serbia has 90 days\u2019 worth of oil reserves<\/strong>, leading to the question: <strong>Does this mean the country is safe for three months?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Radosavljevi\u0107 argues that while <strong>this may be true on paper, the reality could be different<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThere are <strong>some petroleum derivatives currently on the market<\/strong>, but these are not just <strong>mandatory reserves<\/strong>\u2014there are also <strong>company reserves and state commodity reserves<\/strong>. I think focusing on <strong>30, 90, or 100 days<\/strong> is irrelevant. The real issue is: <strong>How will these products reach consumers? How will they be paid for? How will they be purchased?<\/strong>\u201d he emphasized.<\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fserbiantimes%2Fposts%2Fpfbid025CwwSyghdZgua9kE6FSSN1pkkrQnmY2dj9qAy2QCwwM1xDnh161JpzkmVjSdTSrfl&#038;show_text=true&#038;width=500\" width=\"500\" height=\"250\" style=\"border:none;overflow:hidden\" scrolling=\"no\" frameborder=\"0\" allowfullscreen=\"true\" allow=\"autoplay; clipboard-write; encrypted-media; picture-in-picture; web-share\"><\/iframe>\n\n\n\n<p class=\"wp-block-paragraph\">Asked about Minister <strong>\u0110edovi\u0107 Handanovi\u0107\u2019s claim<\/strong> that <strong>MOL will double its supply capacity<\/strong>, Radosavljevi\u0107 pointed out that <strong>MOL has so far supplied a maximum of 10% of the market<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIf they <strong>double that<\/strong>, it will still only be <strong>20%<\/strong>. Do you think <strong>20% is greater than 80%?<\/strong> That is not enough,\u201d he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Fuel prices in Serbia are regulated weekly by the government<\/strong>, and if sanctions were imposed, <strong>prices would be affected by potential shortages<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Radosavljevi\u0107 warned that in such a scenario, <strong>official prices would become irrelevant<\/strong>, as <strong>black market fuel sales could emerge<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIf fuel shortages occur, a <strong>black market<\/strong> could develop, which <strong>would not be good<\/strong>. However, it is <strong>difficult to predict<\/strong> whether this will happen. It would be <strong>highly irresponsible for the government<\/strong> to allow this situation to escalate. If the state has done its <strong>homework<\/strong>, we <strong>should not see major disruptions<\/strong>. The government could also negotiate <strong>exemptions for key consumers<\/strong>, such as <strong>large agricultural enterprises, major companies like EPS, public transport (GSP), and Air Serbia<\/strong>,\u201d Radosavljevi\u0107 concluded.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><mark><mark style=\"background-color:rgba(0, 0, 0, 0);color:#b02525\" class=\"has-inline-color\">MORE TOPICS:<\/mark><\/mark><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/serbiantimes.info\/en\/serbian-kickboxers-show-no-mercy-incredible-12-medals-at-the-european-cup-in-bulgaria-photo\/\" target=\"_blank\" rel=\"noreferrer noopener\">SERBIAN KICKBOXERS SHOW NO MERCY: Incredible 12 medals at the European Cup in Bulgaria! 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(VIDEO)<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Source<\/strong>: Nova.rs, <strong>Foto<\/strong>: Naftna Industrija Srbije<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sanctions against Serbia\u2019s Oil Industry (NIS), due to Russian ownership shares, have been postponed for 30 days, Serbian President Aleksandar Vu\u010di\u0107 announced on his Instagram account. The sanctions were set to take effect today, but the U.S. granted Serbia a last-minute reprieve, delaying their implementation. Yesterday afternoon, news broke that Gazprom Neft reduced its ownership [&hellip;]<\/p>\n","protected":false},"author":2169,"featured_media":167428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"footnotes":""},"categories":[4],"tags":[71,2476,4111,4112,3569,3570,738,3571,113],"class_list":["post-167427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","tag-amerika","tag-energetika","tag-gas","tag-nafta","tag-naftna-industrija-srbije","tag-nis-2","tag-rusija","tag-sankcije","tag-srbija","entry"],"aioseo_notices":[],"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Serbiantimes.info EN","distributor_original_site_url":"https:\/\/serbiantimes.info\/en","push-errors":false,"_links":{"self":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts\/167427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/users\/2169"}],"replies":[{"embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/comments?post=167427"}],"version-history":[{"count":1,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts\/167427\/revisions"}],"predecessor-version":[{"id":167443,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts\/167427\/revisions\/167443"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/media\/167428"}],"wp:attachment":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/media?parent=167427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/categories?post=167427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/tags?post=167427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}