US Grants Temporary Sanctions Relief to Russian-Controlled Serbian Oil Firm
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US Grants Temporary Sanctions Relief to Russian-Controlled Serbian Oil Firm

The United States has granted a temporary sanctions reprieve to Serbia's majority Russian-owned oil company, NIS, allowing its refinery to resume operations until January 23. This decision follows sanctions imposed in December that halted fuel supply to 80% of Serbia's needs. The reprieve aims to safeguard Serbia's energy security and prevent economic impact, as talks continue regarding the company's ownership structure and potential sale. Serbia remains a key Russian ally and has not imposed sanctions on Moscow over the Ukraine war.

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