Serbia’s Energy Minister, Dubravka Đedović Handanović, reassured the public this morning that the country’s citizens and economy need not worry about potential sanctions on the Oil Industry of Serbia (NIS). She emphasized that there are sufficient reserves of crude oil and derivatives to prevent market disruptions, and that efforts will be made to ensure stability. “I expect rational behavior from all market participants, including oil companies, financial institutions, and banks,” she told Radio Television of Serbia (RTS).
The minister also expressed confidence that Serbia is counting on support from the US administration to prevent the sanctions from impacting the country. She emphasized the importance of this assurance for investors.
Đedović Handanović noted that every word in the sanction decision matters and that Serbia is waiting for further clarification from the US to engage in discussions with Russia, a long-standing energy partner.
Regarding the suspension of gas deliveries from Azerbaijan, the minister explained that the company there is experiencing technical issues, and there is no room for speculation on the matter. She stated that it is difficult to predict how long the disruption will last.
President Aleksandar Vučić also commented on the issue, revealing that he had received notification from Azerbaijan that Serbia can no longer rely on the daily supply of 1.7 million cubic meters of gas. He added that Serbia is now starting to deplete its gas reserves.
