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Fuel, oil, gas, sanctions, and decisions that affect energy security.
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021 reports that the US Treasury's OFAC extended NIS's operating license and MOL's license for talks on buying the Russian stake until July 1; the previous licenses were valid until June 16. In the same article, economist Jeffrey Sachs tells RTS that US sanctions against NIS are illegal and unilateral, arguing that the US should not dictate Serbia's cooperation terms with Russia.
From Friday at 15:00 until June 26, a liter of Europremium BMB petrol will cost up to 191 dinar and eurodiesel up to 217 dinars. Both fuels are 3 dinars cheaper than the previous week.
Dubravka Djedovic Handanovic said that, after signing the shareholder agreement with MOL, the Serbian side has completed its part of the NIS talks. She said Gazprom Neft and MOL now need to agree on the sale, with an outcome acceptable to the US Treasury's OFAC.
On June 16, the Energy Ministry and MOL signed a shareholder agreement on the future management of NIS: it takes effect only if MOL reaches a deal with Gazprom Neft to buy 56.15 percent of NIS and receives OFAC approval. The same day, Aleksandar Vucic said from Tbilisi that, based on information he was receiving from Washington, NIS's operating license may be extended for another 15 days.
Serbia's government has again extended the temporary reduction in excise duties on petroleum products, this time through June 21: until then the excise is 61.24 dinars per liter for leaded gasoline, 57.6 dinars for unleaded gasoline, and 59.23 dinars for gas oils.
On June 13, 021, citing RTS, carried Jelica Putnikovic's assessment that the nearest critical deadline for NIS is Tuesday, June 16, when the existing licenses expire. Even after the Serbia-MOL arrangement, the outcome depends on OFAC consent, concrete contracts, possible governance changes, and guarantees for keeping the Pancevo refinery operating.
