Serbia expects one other sanctions waiver from US for oil firm NIS, official says

BELGRADE (Reuters) – Serbian oil firm NIS, majority-owned by Russia’s Gazprom Neft and Gazprom, is more likely to get a last-minute, 30-day extension to its waiver from U.S. sanctions, the CEO of state fuel firm Srbijagas stated on Thursday.

The earlier waiver is because of expire at midnight, and if it isn’t prolonged NIS may face crude provide cuts. NIS operates the one oil refinery in Serbia, which has annual capability of 4.8 million tons and covers many of the Balkan nation’s wants.

“There can be extra delays of sanctions … , however we can not count on greater than 30 days,” Srbijagas CEO Dusan Bajatovic instructed Belgrade-based Pink TV.

He didn’t say how he knew this info. Bajatovic is a member of Serbia’s co-ruling Socialist social gathering and Srbijagas can also be a commerce companion of Gazprom.

NIS didn’t instantly reply to a request for remark.

As a part of its January 10 sanctions on Russia’s oil sector, the U.S. Treasury’s Workplace of Overseas Property Management gave Gazprom Neft 45 days to exit possession of NIS.

On March 19, NIS sought a 30-day waiver of the sanctions, an extension of the primary reprieve permitted on Feb 27, to safe extra time to discover a answer with the Russian firms.

On February 26, Gazprom Neft transferred stakes of round 5.15% in NIS to Gazprom in an try and push back sanctions.

The switch follows an identical change in 2022 when the corporate prevented EU sanctions imposed on Russia over its invasion of Ukraine.

Gazprom Neft now owns 44.85% of NIS, whereas Gazprom has 11.3%. The Serbian authorities holds 29.87%, and small shareholders the remainder.

NIS imports about 80% of its wants by means of Croatian pipeline operator Janaf, with the rest lined by its personal crude oil manufacturing in Serbia.

(Reporting by Aleksandar Vasovic. Enhancing by Mark Potter)