Russians agree to exit the Serbian Oil Company, U.S. sanctions take effect
After Western sanctions were imposed on Serbia's major oil and gas company (NIS), Russian shareholders have agreed to sell their shares in NIS.
Russian state-owned company Gazprom Neft holds 44.9% of NIS shares, and its parent company's investment department holds 11.3% of the shares. The Serbian government holds 29.9% of the shares.
On Tuesday, Serbian Energy Minister Dubravka Đedović Hanžević announced on social media that Russian companies had submitted an application to the U.S. Treasury's Office of Foreign Assets Control (OFAC) requesting an extension of the sanction exemption, provided negotiations with a third party are conducted.
She said, "The application stated that Russia is prepared to transfer control and influence over NIS to a third party," and added that the Serbian government supports this request.
The Serbian Energy Minister stated that the U.S. Treasury's Office of Foreign Assets Control (OFAC) has responded to some comments, and Serbia expects to learn Washington's position as early as this week.
Djedović Hanžević wrote, "Time is pressing, a solution must be found, but the people must not suffer, and they must not face fuel shortages. This situation will not happen, and it should not happen."
NIS is the main supplier in the Serbian market, and as winter approaches, the U.S. and its European allies are increasing pressure on Russia to end the war in Ukraine, while this Balkan country is striving to ensure the continuity of its operations.
The sanctions against NIS took effect at the beginning of October, causing banks processing payments for the company to stop operating, and the JANAF oil pipeline in Croatia also stopped transporting crude oil.
Officials estimate that without new crude oil supplies, the refinery can operate at most until November 25.
The broader U.S. sanctions also target Russia's two largest oil companies - Lukoil and Rosneft - as well as dozens of their subsidiaries.
Lukoil holds stakes in oil and gas projects in 11 countries and has refineries and a network of gas stations in several European countries.
In late October, Lukoil announced it was seeking to quickly sell part of its overseas assets.
The company said it is negotiating with potential buyers, and the transactions will take place within the sanction relief period, which expires on November 21. Lukoil said that if necessary, it will apply for an extension of the relief period to complete these quick transactions.
Ukraine continues to call for stricter sanctions and asset freezes against Russia and demands that Russia provide Western-made defense systems and missile weapons.
Sources: Al Jazeera
Original: www.toutiao.com/article/1848513402921994/
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