Overview
- NIS said the Pancevo plant has shifted to warm circulation and begun suspension procedures, with a full halt likely before the week ends without new crude.
- OFAC granted a license valid through February 13, 2026 that permits ownership negotiations but does not allow normal operations to resume.
- Serbia reported short‑term coverage of domestic demand, citing 53,648 tons of gasoline and 89,825 tons of diesel in refinery stocks and approving additional imports for state reserves.
- Payment and supply channels remain disrupted after banks stopped processing NIS transactions and Croatia’s JANAF pipeline halted crude deliveries.
- Hungary’s MOL has more than doubled oil product exports to Serbia this month, while Visa and Mastercard are not accepted at NIS stations and the central bank says it will stop transactions with NIS if no deal is reached within 50 days.