oil imports

Serbia scrambles for oil import options amid pending US sanctions on NIS

With US sanctions on Naftna Industrija Srbije (NIS) potentially taking effect on October 8, Serbia is evaluating alternative ways to import crude oil and petroleum products. Sanctions would likely block NIS from making payments, preventing purchases on the global market or via the Adriatic Pipeline (JANAF), Serbia’s main route for crude oil, which supplies the Pančevo refinery. Prior to the sanctions threat, JANAF provided about 70% of diesel and 85% of gasoline consumed domestically. The only concrete alternative so far…