Belgrade has announced that Russian owners of a Serbian oil company have agreed to sell their controlling stake, a move aimed at lifting U.S. sanctions that threaten to shut down the country’s sole refinery. The decision comes amid growing concerns over the potential economic impact of the sanctions on Serbia’s energy sector. The Serbian government has emphasized that this sale is crucial to maintaining the operational stability of the refinery, which is vital for the nation’s energy supply.
The U.S. sanctions, which have been in place for several years, target the company’s involvement in activities that the U.S. government deems illegal. By selling the controlling stake, the Russian owners hope to comply with the sanctions and ensure the continued operation of the critical refinery. Serbian officials have stated that the sale will enable the country to avoid a potential energy crisis and maintain its energy independence. This deal is seen as a significant step in the ongoing negotiations between Serbia and the U.S. to resolve the sanctions issue.