Serbia shores up oil reserves as seeks delay of U.S. sanctions on oil firm NIS

BELGRADE (Reuters) – Serbia is shoring up its crude oil and gasoline reserves because the nation presses on with talks with the US and Russia to keep away from U.S. sanctions on its oil firm NIS, vitality minister Dubravka Djedovic Handanovic stated on Wednesday.

Gazprom Neft and Gazprom maintain stakes of fifty% and 6.15% respectively in NIS, which operates the only real oil refinery in Serbia.

“We’re persevering with talks with each the US and Russia to succeed in an answer,” Djedovic Handanovic stated in a dwell TV broadcast.

Following U.S. sanctions in opposition to Russia’s oil sector on January 10, Gazprom Neft was given 45 days to exit possession of NIS, which operates Serbia’s sole oil refinery in Pancevo, simply outdoors the capital Belgrade.

Serbia, an historic ally with Russia, has submitted a proper request to the U.S. Treasury Division for a waiver of sanctions for 90 days to permit it to think about a “sustainable resolution that will result in the lifting of sanctions.”

(Reporting by Aleksandar Vasovic; Writing by Angeliki Koutantou; Enhancing by Louise Heavens)