Serbian Government Working Dedicatedly to Prevent Negative Consequences of Announced Sanctions on NIS

The Minister stated that the Serbian Government is working diligently to prevent negative consequences of the announced sanctions on NIS and that the situation regarding NIS is being monitored on a daily basis.

"We monitor the operations of the Naftna industrija Srbije daily, but the situation is far from simple, as the positions of the American and Russian sides are still widely apart. At the moment, we are considering two or three possible scenarios while continuing to monitor market conditions and prices, in order to maintain the stability of supply. I would like to point out that this is primarily a political issue that could impact our economy.," said Djedović Handanović.

She noted that NIS had submitted an official request to the US Department of Treasury's Office of Foreign Assets Control (OFAC) for a postponement of sanctions, which was 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 US administration, and we are continuing discussions with the US Treasury Department (OFAC) this week. We also expect to see the next steps from the Russian side," said Djedović Handanović.

The Working Group meeting was also attended by Deputy Prime Minister Aleksandar Vulin, Minister without Portfolio in Charge of International Economic Cooperation and the Social Position of the Church in the Country and Abroad Nenad Popović, and member of the Board of Directors of the Naftna industrija Srbije Dragutin Matanović, representatives of the Office of the President of the Republic of Serbia, the Office of the Prime Minister of the Republic of Serbia, as well as representatives of the Ministry of Finance.