Blic: Sanctions on Import of Oil Removed for Serbia in Brussels

Serbia and the Western Balkans have been removed from the list of sanction pertaining to the import of oil, the Blic portal reports.

– That means that we will continue importing through the Adriatic corridor, which means that we have secured oil for the period after May 15 through JANAF as well – said the source of Blic.

This has been confirmed by the minister of mining and energy of Serbia, Zorana Mihajlovic, who stated that it was good news that Serbia was exempt from the fifth set of sanctions of the EU toward Russia, meaning that the supply of the Serbian market with oil through the Adriatic oil pipeline would continue after May 15 as well, it is said on the website of the ministry.

Previously, in late March, Jadranski Naftovod (JANAF) announced the stopping of the delivery of oil to Naftna Industrija Srbije (NIS) in line with the sanctions toward Russia due to the attack on Ukraine, since the majority owner of NIS is the Russian Gazpromneft, which has 56.15% shares, whereas the Republic of Serbia has 29.87%, and small shareholders 13.98%.

It was said at the time that the sanctions would encompass the agreement on the transport of crude oil signed with NIS and that, unless changes occurred, the agreement couldn’t be realized from mid-May until the sanctions are in effect.

The agreement reserves the transport capacities of the oil pipeline to the Pancevo Refinery under the take-or-pay principle for the transportation of 3.2 million tons, plus/minus 10%, of oil per year.

NIS a.d. Novi Sad

Ministarstvo rudarstva i energetike Republike Srbije

Naftna industrija Srbije

NIS

Ministry of Mining and Energy

Gazpromneft

Gazprom neft

Zorana Mihajlović

Western Balkans

Brussels

sanctions

import of oil

Adriatic corridor

JANAF

Jadranski naftovod

stopping of oil delivery

transport of crude oil

take or pay