NBS says will not let stability of Serbian financial system be jeopardised

BELGRADE - The National Bank of Serbia (NBS) announced on Tuesday that, in order to preserve the stability of the country's financial system, it would suspend payment transactions with Serbia's Russian majority-owned oil firm NIS - which is under US sanctions - if the company did not receive an operating licence by a stipulated deadline.

"In line with the announcement of the President of the Republic of Serbia, the NBS informs the public that it will suspend payment transactions with NIS a d if the company does not receive a licence to operate by the stipulated deadline. This measure is to ensure that the stability of the domestic financial system is in no way called into question and that payment transactions within the country continue to run smoothly," the NBS said in a statement.

Earlier in the day, President Aleksandar Vucic announced that, starting from Monday, no bank would be working with NIS in case the licence was not granted.