Vučić: The US will impose sanctions against NIS on October 1

According to him, the Petroleum Industry of Serbia (NIS) has repeatedly sought a suspension of sanctions. NIS operates Serbia's only oil refinery. Washington's pressure was part of a crackdown on Russia's energy sector.

Vučić acknowledged that sanctions will have a serious impact on Serbia. The country will have to pay a heavy price. These measures will force Russian shareholders to divest their stakes in the company or face nationalization.

Experts warn that the Serbian economy is at risk. Such sanctions will lead to oil shortages and a broader price increase.

Goran Radosavljević, Secretary General of the National Petroleum Committee of Serbia, explained that NIS supplies over 80% of the wholesale market. This will lead to difficulties with the supply of petroleum products, AFP reports.