What does the new license for NIS entail, and does the heating season depend on Washington?

Naftna industrija Srbije (NIS) has received a new operating license from the U.S. Department of the Treasury, extended until December 11. While this move provides temporary relief for the operations of one of Serbia's most significant companies, it simultaneously raises numerous questions regarding the country's long-term energy stability, given the current global geopolitical turmoil and the state of relations between Washington and Moscow.

Milun Babic, President of the Assembly of the Serbian Energy Association, warns in an interview with Euronews Serbia that the situation should be taken seriously, though there is no cause for panic. He emphasizes that the public should not be reassured prematurely, as a great deal of unverified information is currently circulating. According to Babic, it is crucial to accurately assess the state of national reserves and analyze existing contracts with oil and gas suppliers.

Babic stresses the need for a swift and thorough evaluation of the situation. Otherwise, the country could face unpleasant surprises. To illustrate the risks associated with poor planning and unpredictability, he drew a parallel to recent events in the financial sector. He cited the case of Alta Bank, an institution considered highly stable until recently, which, following a decision by the National Bank of Serbia, ended up in bankruptcy overnight due to a lack of funds. Babic warns that a similar, sudden scenario could also occur in the energy sector if we do not rely on accurate data and if there is a lack of adequate resource planning.

NIS a.d. Novi Sad

Savez energetičara Srbije Beograd

US Department of the Treasury

Naftna industrija Srbije

NIS

Serbian Energy Association

Milun Babić

Nenad Pekez