OFAK made a decision allowing NIS to continue processing crude oil until July 31, while MOL continues negotiations on the possible purchase of a majority stake in Naftna industrija Srbije
The production of coke and oil derivatives fell by as much as 73,3 percent compared to last year due to the NIS shutdown. The sharp decline in total industrial production was partially prevented by car production, but the question is - how long will Stelantis be maintained in Serbia
MOL and Gazpromneft reached an agreement on the basic provisions of the future sales contract for NIS, which will be sent to the American administration for decision. According to the minister, Serbia managed to increase its ownership share by five percent
After the interruption of transportation due to US sanctions, the refinery in Pancevo receives crude oil again. Minister Đedović Handanović pointed out that an additional 35.000 to 45.000 tons is expected next week, which enables the continuous operation of the refinery.
"It is crucial that a solution to NIS be reached in the first quarter of 2026, especially considering the broader geopolitical context. The beginning of 2026 is already marked by geopolitical upheavals in Iran and Venezuela. Both countries are oil powers and members of OPEC, but are restricted in the free sale of oil due to OFAC sanctions. Geopolitical tensions with such countries have a significant impact on oil and raw material prices, so there is a real risk that third countries will suffer the consequences"
After a several-week standstill caused by US sanctions, the process of selling the Russian stake in NIS is entering a crucial phase - representatives of MOL have begun an in-depth analysis of the company, while the authorities announce the imminent launch of the Pancevo Oil Refinery
The extended license obtained by NIS enabled the performance of operational activities and the restart of the Refinery in Pancevo
According to the words of the Russian ambassador in Belgrade, NIS continued its smooth operations in cooperation with Gazpromneft, without interrupting fuel deliveries to domestic consumers and strategic sectors.
Since the beginning of the year, the National Bank of Serbia has spent almost 1,4 billion euros from its foreign exchange reserves to defend the existing exchange rate of the dinar. What are Serbia's foreign exchange reserves?
The Minister of Energy, Dubravka Đedović Handanović, confirmed that the negotiations between the Russian shareholders and the Hungarian company MOL regarding the exit of Russian ownership from the Oil Industry of Serbia are ongoing, which is one of the key conditions for the eventual lifting of US sanctions on NIS.
After the statement of the Russian Minister of Foreign Affairs, Sergey Lavrov, that based on the intergovernmental agreement, Serbia must not unilaterally nationalize NIS, the President of Serbia, Aleksandar Vučić, says that there is no nationalization without mutual consent.
Whether they do business with NIS, whether they are even allowed to talk about it, and how long that business will last, some banks explain to "Vreme"
The euro jumps, people flock to exchange offices, banks refuse to say whether they do business with NIS, and the regime says - everything is panic. It is possible, but who is wider
When do secondary sanctions come into effect? Is Aleksandar Vučić knowingly taking a risk because he allows NBS to do business with NIS even after December 7? Do foreign banks do the same?
Prime Minister Đuro Macut emphasized that the energy situation is stable and that citizens should not worry about the supply, while the issue of sanctions against the Serbian Oil Industry is being resolved.
With the cessation of operations of the Pančevo Refinery, Serbia is forced to import fuel, which will certainly increase in price as a result. The only question is to establish market prices in retail, or the state will give up its profit for political reasons
The President of Serbia, Aleksandar Vučić, announced that NIS did not receive a positive decision from the USA on the extension of the work license, so the Pancevo Refinery will be shut down. Under "the risk of the entire financial system falling under US sanctions", the NBS will not terminate payment operations with the NIS until the end of the week in order to be able to pay workers' salaries
After the meetings in Belgrade, Budapest confirms that one of the options is for MOL to take a majority stake in NIS. According to the Hungarian government, talks with Serbia and other actors are already underway
The deadline of 48 hours, which Aleksandar Vučić "gave" America and OFAK to respond to the request for a license for NIS - is slowly ticking away. The same day is an American national holiday, on which, according to tradition, everyone gives thanks and gives gifts - but among friends
Considering that the gross social product of Serbia is about 80 billion euros, and Nisa's income in 2023 was about 3,4 billion, where the added value is about 300 million, the share in GDP growth is less than half a percent, but the shutdown of the refinery also affects the rise in prices, as well as the foreign exchange market and the inevitable rise in inflation
The last day to obtain a US OFAC license for NIS is approaching. The economic equation is simple - if NIS gets a license, the refinery in Pancevo continues to work, otherwise it shuts down. What happens then?
The plants of the NIS refinery in Pancevo are still operating, but they will be completely shut down in four days if the Americans do not extend the license to supply crude oil. Aleksandar Vučić gave the Russians 50 days to find a valid buyer for NIS, and if they don't do it, Serbia will place the company under state administration
The refinery is not shut down yet, but will be in four days unless the US government grants a crude oil supply license.
After the new, dramatic TV episode of the public meeting of the Government of Serbia on the American sanctions against NIS, the audience is sitting on the edge of their seats and waiting for next week with many open questions - how much time do we have, what do the authorities intend and what can be done at all? What really awaits us in the series finale
The refinery in Pancevo will soon stop, if no solution is found for the sanctions against NIS. Reserves are not enough for the winter. Threats of shortages, black market and price increases
The National Bank of Serbia received a warning about possible secondary sanctions due to doing business with NIS, Governor Tabaković revealed.
In the whole energy epic with NIS, the state is telling what is happening with a spoon. It has now emerged that the Russians have agreed to sell their ownership stake. Is it good or bad news for Serbia?
