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The enforcement of U.S. sanctions against the Petroleum Industry of Serbia (NIS) is “extremely bad news for Serbia,” President Aleksandar Vucic stated at a press conference. He added that the storage facilities are full and that citizens can remain calm regarding oil derivatives until the New Year.
09.10.2025. 15:58
Vucic emphasized that the state has done everything it could – filling all storage facilities to capacity – but despite that, the country will still face numerous challenges.
"A realistic assessment is that the refinery can operate without new oil supplies until November 1. Could it last five or seven days longer? We hope so. After that, it will be extremely difficult", Vucic said, reminding that JANAF had announced it would suspend cooperation with NIS.
Nevertheless, he noted, there are sufficient reserves of derivatives and citizens should not panic.
"Our reserves are full. We have a total of 432,000 tons of diesel, over 66,000 tons of gasoline, and as for fuel oil, EPS has enough for a year", the Serbian president underlined.
He stressed that when it comes to fuel, the state guarantees that there will be no problems for anyone until the New Year.
The company NIS informs the public that it has not yet received an extension of the special license from the U.S. Department of the Treasury, which allows for uninterrupted operational activity.
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According to Vucic, this is not just about the operation of a single company – the consequences will be extremely serious for the entire country in political, economic, social, and every other sense.
He further emphasized that the introduction of sanctions is not directed against an individual or anyone within the state apparatus, but rather something that will affect every citizen.
"We have held talks and will continue to hold talks with our American partners. This morning, I also spoke with the Russian ambassador, and we are expecting further reactions from Moscow", Vucic said.
He added that, due to the imposition of U.S. sanctions on NIS, the media will receive daily updates on the country’s consumption of reserves and oil derivatives.
"You will receive daily information and know exactly whom to contact for what, and how – within 48 hours – so that you have daily reports on how much of our reserves we are using, of all different oil derivatives, and how much gas we are consuming", Vucic stated at the emergency press conference.
He assured citizens that there is no reason for alarm.
"There is absolutely no cause for panic. Be calm, sleep peacefully. And as always – Serbia will prevail", Vucic concluded.
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