US to Impose Sanctions on Serbian Oil Company NIS from October 1

Serbian President Aleksandar Vucic announced that U.S. sanctions on Serbia's oil company NIS will come into effect on October 1, following a final four-day postponement. The sanctions, initially imposed in January due to NIS's ties to Russian entities Gazprom Neft and Gazprom, have been delayed six times but are now imminent, posing serious financial challenges for the company, including difficulties in paying salaries and conducting transactions as banks avoid cooperation. Vucic described Serbia as a "collateral victim" of the broader geopolitical tensions between the U.S. and Russia and expressed concerns about the economic and social impact, especially with winter approaching. Despite Gazprom's withdrawal from direct ownership, its shares were transferred to another Gazprom-controlled company, maintaining Russian influence in NIS. Vucic emphasized Serbia's efforts to remain fair to both American and Russian partners while seeking solutions to mitigate the sanctions' effects, though he noted limited international interest in Serbia's predicament. He also called for support to ensure citizens have sufficient fuel supplies during the difficult period ahead.