Here it is, the drama of the year in Serbian energy! The US sanctions on NIS, which have already been postponed four times, are once again threatening to disrupt Serbia’s oil and fuel supply. Yes, you read that right – four times! The sanctions, originally set to take effect on February 27, have now been delayed for another 30 days, but the question is how many more delays can we expect. Why does this matter? Because NIS controls about 80% of Serbia’s fuel market, the state owns around 30%, and Russian Gazpromneft holds a majority stake of 56%. The US Treasury Department imposed sanctions on Russian energy companies, including Gazpromneft, to cut Moscow’s revenues that fund the war in Ukraine. Serbia has so far managed to avoid sanctions, but the situation is tense. Prime Minister Vučić has stated that Serbia is ready to buy out the Russian share of NIS, but how and from whom remains unclear. And what if the sanctions stay? Fuel shortages, price hikes, and serious market destabilization are possible. Croatian company Janaf, which transports most of the oil for Serbia, is also involved, as sanctions could threaten their cooperation. Experts warn that long-term sanctions could lead to inflation, reduced consumption, and foreign investors pulling out. All this while Serbia imports about 47% of its oil from Russia and 52% from Iraq. Will Serbia manage to escape this energy trap? Or are we in for another hit to our wallets? Drop a comment if you think this is the beginning of the end for energy stability or just another political game keeping us on edge. Maybe it’s time we all start biking and saving fuel! Either way, keep an eye on this story because this is just the opening act of a real energy drama!
