Djedovic Handanovic: Serbian gov't has requested new delay of US sanctions on NIS

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic said on Tuesday the Serbian government had written to the Office of Foreign Assets Control (OFAC) of the US Treasury Department in support of a request by Serbia's Russian majority-owned oil firm NIS for a delay of US sanctions on the company for a further 180 days to maintain the security of oil and oil derivatives supplies in Serbia and avert serious negative consequences the sanctions would have for the population and the national economy.

Perhaps more than ever before, Europe and the world face uncertainty in the global oil market, and a 20 pct increase in the past two weeks as a result of the Middle East conflict, Djedovic Handanovic said.

"Additional supply chain disruptions, combined with potential sanctions on NIS, could threaten Serbia's energy security in the worst possible way and have a negative impact on our citizens as well as the population of the entire region. We informed representatives of the US administration of all this, and asked for a new delay of the sanctions, i.e. for an extension of an operating permit for NIS," Djedovic Handanovic said.

She noted that, thanks to a diplomatic struggle by President Aleksandar Vucic and the government, Serbia had succeeded in getting the sanctions delayed three times in the past.

"For us, it was a relief when we received from the OFAC a special permit for NIS that is valid until June 27, which has enabled unobstructed procurements of, and payments for, crude oil as well as transport to the Pancevo refinery for a period of 60 days. The most important goal is for the refinery to have enough crude oil and to continue to operate," the minister said.