EU sanctions fallout: Serbia to stop receiving Russian oil via Adriatic pipeline

Serbia is not the only European country affected by the new set of EU sanctions – which bans Russian crude oil imports by sea – the ministry told broadcaster N1 TV, adding that it was doing “everything to ensure secure supply.” [Shutterstock/Dabarti CGI]

 Oil company Naftna industrija Srbije (NIS), of which 56.15% of the share capital is owned by Russia’s Gazprom Neft, will no longer receive Russian crude oil from the Adriatic oil pipeline JANAF following the EU’s latest set of Russia sanctions, the energy ministry announced Sunday.

Serbia is not the only European country affected by the new set of EU sanctions – which bans Russian crude oil imports by sea – the ministry told broadcaster N1 TV, adding that it was doing “everything to ensure secure supply.”

NIS’ crude oil supply comes in tanker ships via the Omišalj harbour, on Croatia’s Krk island.

“That means that there is no possibility of Russian crude oil being delivered to the refinery in the Serbian city of Pančevo anymore, but NIS can import any other crude oil, and has been importing oil from Iraq and some other countries in the previous period,” a representative of the ministry has said.

According to him, the energy ministry plans to work towards resolving the issue of supply and increasing the storage of crude oil, which, in addition to stable petroleum product reserves, “should provide additional security in case of market disruption.”

“One expected consequence of the new set of EU sanctions is pressure on demand because other countries will also seek alternatives to importing oil from Russia,” he explained.

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