Minister: No fuel shortages expected despite US sanctions on Serbia's NIS

Serbia is prepared for the possibility that the United States will not further postpone sanctions against Naftna Industrija Srbije (NIS), the country’s major oil and gas company. Despite the restrictions set to take effect on February 27, Serbian authorities assure citizens that there is no need for concern.

According to Russian media reports, Serbian Minister of Mines and Energy Dubravka Djedovic-Handanovic emphasized that while a last-minute delay in sanctions remains possible, the government must plan for all outcomes to ensure stability in the energy sector, per Caliber.Az.

“Anything is theoretically possible, even at the last moment, but we have to consider scenarios in which the postponement will not happen in order to guarantee uninterrupted supply, first of all at gas stations. Citizens have nothing to worry about, there is no reason to panic and no need to stockpile,” said Djedovic-Handanovic.

Addressing Serbia’s geopolitical position, the minister acknowledged the country’s challenging circumstances.

“We are caught between two great powers that until recently did not negotiate with each other on this issue at all. Fortunately, the US and Russia have begun a comprehensive political dialogue that touches on economic topics, including sanctions,” she stated.

“Our goal is to comply with our laws, regulatory framework, international agreements, the rule of law, to protect the property of investors, but first and foremost – the interests of our citizens. At the moment, the most important thing is to ensure uninterrupted supply to the market, and this will be done.”

Djedovic-Handanovic also pointed to the possibility of a broader political resolution between the US and Russia, which could influence the economic landscape.

“One of the options is reaching a comprehensive political agreement between the US and Russia, which will affect the economic aspects as well,” she noted.

“In the meantime, we will continue to negotiate with both sides in order to reduce the difference in positions, and we will monitor the market, ensure uninterrupted supply through NIS and other companies, increase their capacities, and look for a sustainable solution,” she concluded.

Until now, Serbia has maintained a competitive edge through its agreement with Russia. However, officials warn that the newly imposed sanctions could significantly impact the country’s economy.

By Tamilla Hasanova