BELGRADE, March 20, 2026 (BSS/AFP) - Serbia's sanctioned oil firm had its temporary operating licence extended by the United States on Friday, Serbia's minister said,as a potential deal on the Russian exit from the company nears its end. The decision avoids another shutdown of the country's only oil refinery, after US sanctions hit it as part of a crackdown on Russia's energy sector. Negotiations over the sale of a Russian-majority stakeholding in the Petroleum Industry of Serbia (NIS) have been ongoing for months with Hungarian energy giant MOL. Serbia sold a majority stake in NIS to Gazprom in 2008 for 400 million euros ($460 million). It is now 45 percent owned by Gazprom Neft, which is under US sanctions, while Gazprom transferred its 11.3 percent stake in September to its affiliated firm, Intelligence.

Source: Bangladesh Sangbad Sangstha March 20, 2026 10:48 UTC