Serbian President Aleksandar Vucic described the US sanctions against the Serbian Oil Industry (NIS) as the toughest, BTA reports.
Vucic told Serbian national television RTS that US sanctions against NIS are a comprehensive attack on Russian companies and companies related to them, including the Serbian oil company.
"A full exit of Russian capital from NIS is required by February 25. The company will be able to resume its activities, but we must immediately start with the ownership transformation plan, and it must be approved by the United States. We will have 45 days for all operations until February 25th," Vucic said.
The Serbian president specified that the deadline for the transformation of NIS's ownership could be extended until March 10th.
Vucic also said that Serbia would submit a request to the new US administration regarding the introduction of sanctions in their full amount and whether mitigating circumstances could prevent this.
The Serbian government adopted a decision to form a Coordination Body to ensure the safe supply of oil and gas, chaired by Prime Minister Miloš Vučević.
The Secretary General of the Association of Petroleum Companies of Serbia, Tomislav Micović, announced a few days ago that the introduction of sanctions would affect the Serbian market for oil derivatives, but that there were solutions to all obstacles that may arise, and the supply of the market will not be disrupted.
Despite attempts to diversify supply sources since the beginning of the Russian invasion of Ukraine, Serbia is still almost entirely dependent on Russian energy sources, and this dependence is one of Belgrade's key arguments for not imposing sanctions on Moscow.
Serbia, an EU candidate country, has repeatedly condemned the Russian invasion of Ukraine, but despite calls from the West, it has refused to impose sanctions on Moscow.