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Serbia faces losing access to oil imports as sanctions deadline looms, FT reports

ReutersMar 27, 2025 2:45 PM

- Serbia faces the risk of losing access to vital oil imports on Friday as discussions to prevent the imposition of sanctions on the country's sole oil refinery failed, President Aleksandar Vucic told the Financial Times on Thursday.

A waiver on sanctions is due to expire at midnight, and if it is not extended NIS NIIS.BEL, majority-owned by Russia's Gazprom Neft SIBN.MM and Gazprom GAZP.MM, could face crude supply cuts. NIS operates Serbia's only oil refinery, which has annual capacity of 4.8 million tons and covers most of the Balkan country's needs.

Vucic told the newspaper on Thursday that he did not expect a last-minute deal to avert the crisis.

"We've been talking to the Americans, to the Russians, to everybody" about finding a solution, Vucic told the Financial Times from Belgrade. "We didn't see any changes in the American attitude."

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