US sanctions

Serbia: Talks on NIS progress amid US sanctions concerns Read More »

Serbia: Talks on NIS progress amid US sanctions concerns

Russian Foreign Minister Sergei Lavrov stated that discussions regarding the future of Serbian oil company NIS are actively progressing. He criticized US sanctions policy, arguing that unilateral restrictions and the use of the dollar as leverage undermine the global framework the United States once championed. Lavrov highlighted the bilateral agreement between Serbia and Russia, emphasizing […]

Serbia warns Pancevo refinery will shut down without new U.S. license Read More »

Serbia warns Pancevo refinery will shut down without new U.S. license

Serbian President Aleksandar Vučić announced that the Pančevo refinery, operated by oil company NIS, will be forced to halt operations on 2 December unless the United States grants a license allowing the company to continue working under the existing sanctions framework. President Vučić warned that, without this authorization, Serbia will need to secure alternative channels

Serbia moves to secure legal path for takeover of NIS amid sanctions crisis Read More »

Serbia moves to secure legal path for takeover of NIS amid sanctions crisis

Parliament Speaker Ana Brnabić announced that the Government will introduce an amendment to the 2026 draft budget that would allow Serbia to assume ownership of the oil company NIS, currently majority-owned by Russia’s Gazprom. Brnabić explained that the amendment follows discussions President Aleksandar Vučić held with several political parties and is intended to establish a

Romania: Three international bidders show interest in acquiring Lukoil assets Read More »

Romania: Three international bidders show interest in acquiring Lukoil assets

Three prospective buyers from Romania, the European Union and the United States have expressed interest in acquiring Lukoil’s Romanian assets, which include the Petrotel refinery, a nationwide fuel distribution network and an offshore exploration block. Energy Minister Bogdan Ivan confirmed the developments, noting that some bidders are pursuing a broader, global acquisition of Lukoil’s international

The high-stakes game around NIS: How Serbia’s oil giant became a battleground of influence, strategy and survival Read More »

The high-stakes game around NIS: How Serbia’s oil giant became a battleground of influence, strategy and survival

There is no company in Serbia whose fate is as closely watched — and as quietly contested — as NIS, the country’s dominant oil and gas enterprise and one of the most powerful corporate forces in the Western Balkans. For years, NIS has stood as the embodiment of Serbia’s energy system: vast, profitable, strategically crucial, and

Serbia seeks U.S. license as NIS ownership negotiations advance Read More »

Serbia seeks U.S. license as NIS ownership negotiations advance

Serbian President Aleksandar Vučić announced that Russian shareholders are currently negotiating with three potential buyers for their stake in oil company NIS, and that the talks are approaching a conclusion. He added that Serbia will soon begin discussions with U.S. officials to obtain a special license that would enable the Pančevo refinery to continue operating

Serbia boosts emergency fuel reserves amid sanctions pressure on NIS Read More »

Serbia boosts emergency fuel reserves amid sanctions pressure on NIS

Serbia has intensified efforts to strengthen its emergency fuel reserves in the coming weeks. As part of the plan, the state is arranging deliveries of 38,000 tons of petrol, approximately 66,000 tons of diesel, and an additional 86,000 tons of crude oil to reinforce national stockpiles. Energy Minister Dubravka Đedović announced the measures during consultations

Region: Chevron joins bidders eyeing Lukoil’s international assets after U.S. sanctions shift Read More »

Region: Chevron joins bidders eyeing Lukoil’s international assets after U.S. sanctions shift

US energy giant Chevron is evaluating selective opportunities to acquire parts of the international portfolio of Russian oil company Lukoil, which is currently under US sanctions. The move comes after the US Department of the Treasury last week granted potential buyers permission to engage in preliminary discussions with Lukoil regarding its overseas assets. With this

Serbia: Russian shareholders of NIS seek U.S. approval to extend operating license amid ownership talks Read More »

Serbia: Russian shareholders of NIS seek U.S. approval to extend operating license amid ownership talks

The Russian shareholders of Serbian oil company NIS have submitted a formal request to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) to extend the company’s operating license. The request comes amid ongoing talks with a third party that could take over management and control of NIS. Serbian Minister of Mining

Hungary granted one-year US sanctions waiver to continue importing Russian energy Read More »

Hungary granted one-year US sanctions waiver to continue importing Russian energy

Hungarian Prime Minister Viktor Orbán announced that Hungary has secured an exemption from US sanctions on Russian oil and gas, following a meeting with US President Donald Trump in Washington. The waiver allows Hungary to continue importing Russian crude and natural gas via the TurkStream pipeline and the Druzhba oil network, despite the broader sanctions

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