Djedovic Handanovic: We are considering two or three possible scenarios regarding sanctions on NIS, we anticipate further steps from Russian side

The Government of Serbia is working diligently to prevent the negative effects of the announced sanctions on the oil company Naftna Industrija Srbije (NIS), with the situation being monitored daily, said the minister of mining and energy, Dubravka Djedovic Handanovic, who chaired the meeting of the Working Group Monitoring the Activities of the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC).

– NIS’ operations are being monitored daily, but the situation is not at all simple, given that the positions of the U.S. and Russian sides remain very distant. At present, we are considering two or three possible scenarios, while also closely monitoring the market situation and prices to maintain supply stability. Let me remind that this is, above all, a political question that could reflect on our economy – said Djedovic Handanovic, as announced on the ministry’s website.

She recalled that NIS had sent an official request to OFAC for a postponement of sanctions, which had been officially supported by Serbia and Hungary, given the importance of NIS for oil supply, but also for the economy in the region.

– We have received additional clarifications from the U.S. administration and continue discussions with the U.S. Department of the Treasury, and this week we anticipate further steps from the Russian side – said Djedovic Handanovic.

Ministarstvo rudarstva i energetike Republike Srbije

Vlada Republike Srbije

NIS a.d. Novi Sad

Ministry of Mining and Energy

Government of Serbia

US Department of the Treasury

Office of Foreign Assets Control

OFAC

Naftna industrija Srbije

NIS

Dubravka Đedović Handanović