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President of Serbia Aleksandar Vucic stated that he has information indicating that OFAC could make a positive decision regarding granting a license to the Serbian Oil Industry (NIS) to continue the company’s operations, but that the decision of the U.S. State Department is still pending.
27.11.2025. 17:19
“That decision has not been made yet. This puts us in an extremely difficult position, which we are prepared for. We did not expect it; we were hoping and expecting something else, but we are prepared, and citizens do not need to worry,” Vucic said in a statement to the media after receiving the Istvan Pastor Foundation award at the City Hall in Subotica.
Speaker of the National Assembly of Serbia Ana Brnabic said she believes that during the meeting between President Aleksandar Vucic and Chairman of the Gazprom Management Board Aleksandr Dyukov, the Russian side will accept one of the proposed solutions regarding NIS.
15:44Pre 3 h27.11.2025.
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Minister of Foreign Affairs and Trade Péter Szijjártó announced, after a meeting with Minister of Mining and Energy Dubravka Djedovic Handanovic, that the company MOL will increase its oil exports to Serbia two and a half times.
14:18Pre 1 d26.11.2025.
AutorWhen asked by journalists how Serbia is preparing in case the Pancevo refinery ceases operations, Vucic said he expects the refinery to exit warm circulation on Saturday or Sunday.
“At that point, the refinery will probably have to be shut down. So far, we have not received any signal that we will obtain the license from the U.S. If that happens, we will need, at best, to work around the clock from the day the license is granted, for 15 to 16 days, in order to resume production of petroleum products and ensure that the first diesel comes out of the refinery,” Vucic said.
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Speaker of the National Assembly of Serbia Ana Brnabic said she believes that during the meeting between President Aleksandar Vucic and Chairman of the Gazprom Management Board Aleksandr Dyukov, the Russian side will accept one of the proposed solutions regarding NIS.
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Minister of Foreign Affairs and Trade Péter Szijjártó announced, after a meeting with Minister of Mining and Energy Dubravka Djedovic Handanovic, that the company MOL will increase its oil exports to Serbia two and a half times.
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The President of the National Assembly of Serbia, Ana Brnabic, stated that an amendment to the Budget Law will be proposed in the Serbian Parliament that will define the circumstances under which Serbia would have to take over NIS.
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Minister of Finance Sinisa Mali stated that amendments to the Law on Establishing a Guarantee Scheme and Subsidizing Part of the Interest Rate, as a measure to support young people in purchasing their first residential property, provide an additional 200 million euros of assistance for next year.
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The Petroleum Industry of Serbia (NIS) announced that, due to a shortage of crude oil for processing, caused by sanctions imposed on NIS by the U.S. Department of the Treasury, the Pancevo Oil Refinery is beginning preparations to halt operations.
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Serbian President Aleksandar Vucic stated that the NIS refinery in Pancevo has not been shut down yet, but has shifted to a lower operational mode, so-called "silent operation".
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Minister of Mining and Energy Dubravka Djedovic Handanovic met with representatives of oil companies that are the largest importers of petroleum products in Serbia, stressing that the state’s priority is to ensure a reliable and balanced supply of the domestic market with oil derivatives.
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