US sanctions on Serbia’s Russian-owned oil company, NIS, have sparked concerns about the nation’s energy stability. Serbian President Aleksandar Vucic has warned that without an additional waiver from Washington, the country could soon face a severe fuel shortage, with rising gasoline prices expected as a consequence. The NIS company, which is majority-owned by Russian energy giants Gazprom and Gazprom Neft, has been a primary target of US sanctions aimed at reducing Europe’s dependency on Russian oil. The latest waiver, issued on October 1, is set to expire soon, leaving Serbia in a precarious situation.
Vucic has been attempting to negotiate a resolution to the sanctions dilemma for the past 10 months, but so far, no viable solution has emerged. The president has also expressed reluctance to nationalize NIS, a move that could further strain relations with the West. In an interview, Vucic stated, “We have been working on it for 10 months, we are trying to find a solution and still there is none,” highlighting the government’s ongoing struggle to secure energy independence without alienating key international partners.
Meanwhile, Serbia’s resistance to Western energy policies has drawn criticism from EU members, including Hungary and Slovakia, who have also expressed concerns over Brussels’ pressure to abandon Russian oil imports. The two countries recently announced plans to expedite Serbia’s connection to the Druzhba pipeline system, which supplies oil to eastern Europe. This development underscores the broader geopolitical tensions surrounding Russian energy exports and the efforts of European nations to diversify their supply chains. Vucic’s government continues to balance its strategic interests with its pursuit of EU membership, despite the increasing scrutiny from Western allies.