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2w ago

U.S. Sanctions on Russia-Controlled NIS Take Effect, Putting Serbia’s Fuel Supply at Risk

A lapsed U.S. waiver leaves Serbia’s fuel lifeline exposed with Croatia’s JANAF cleared only through Oct. 15.

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Overview

  • The U.S. Treasury’s sanctions snapped into force on Oct. 9 after OFAC declined to renew NIS’s special license following months of short extensions.
  • NIS says it is processing stored crude and keeping stations supplied, warning that foreign card payments may fail while cash and dinar payments continue.
  • Croatia’s pipeline operator JANAF has U.S. authorization only until Oct. 15 to finish contracted shipments, and officials say flows to Serbia have largely halted.
  • President Aleksandar Vučić ruled out nationalizing NIS and said Serbia is pursuing talks with both Washington and Moscow to navigate the sanctions fallout.
  • The Gazprom Neft–linked refiner supplies about 80% of Serbia’s gasoline and diesel, and officials warn operations could be strained from early November without new crude as regional markets and Croatian pipeline revenues face knock-on effects.