US Sanctions Cast Shadow Over Serbia's Oil Supply

The United States has imposed sanctions on Serbia's primary oil supplier, managed by Russia, potentially affecting the nation's crucial oil and gas supplies. Announced on Thursday, the move compounds Serbia's reliance on Russian energy already challenged by Europe's geopolitical tensions.

Serbia's energy distributor, the Petroleum Industry of Serbia (NIS), predominantly owned by Russia's Gazprom Neft, failed to secure continued exemption from US sanctions, according to a company statement. This development raises concerns over the long-term stability of Serbia's oil and gas supply network.

Complicating matters, the failure to renew the special license with the US Treasury affects foreign credit card transactions at service stations, though cash payments remain unaffected. Pressure mounts on President Aleksandar Vucic's administration amid student-led protests against official corruption and construction failures in key infrastructure projects.

(With inputs from agencies.)