fuel risk

Fuel licensing and NIS ownership uncertainty raise Serbia’s corporate fuel risk

Serbia’s business risk profile for the second half of 2026 is increasingly linked to fuel-related uncertainty rather than demand, wages or interest rates. The issue centers on NIS, the Russian-owned Serbian oil company that runs the country’s only refinery. NIS has applied for a new US licence to keep operating after June 16, when its current licence expires, according to Reuters. Washington is also seeking divestment of the Russian stake. NIS sanctions licensing and the domestic supply question NIS has…