The Serbian government today held an extraordinary session dedicated to the situation at oil company Naftna Industrija Srbije (NIS), which, at the invitation of Prime Minister Professor Đuro Macut, MD, DSc, was attended by President of the Republic of Serbia Aleksandar Vučić.
Q:
A:
Solution for NIS must be found by next week
Belgrade,
16 November 2025
Vučić stated that it is necessary to make a decision and determine a solution regarding NIS by next week, telling citizens that there is no reason to worry and that they will not feel any changes in the next 30 days, though noting that the country is currently suffering serious consequences.
He expressed hope that the Asian and European partners, with whom the Russian side is in talks, will agree to negotiate the ownership structure, which would allow for the Office of Foreign Assets Control (OFAC) to be notified in a joint letter.
If the Russians fail to reach an agreement with their partners on the price, Serbia will offer a better price for the Russian part of NIS, he underlined, stressing that he does not want anyone’s property to be confiscated or seized.
We will also accept the letter that Russia, together with its Asian and European partners, will send to OFAC. As the country in which this process is taking place and as the owner of a 29.87% stake, Serbia will sign that letter and then wait for the decision of the American side, whether it will accept it, whether it will allow us to receive oil and under what conditions this flow would be enabled, said the President.
He stressed that without the flow of oil Serbia would face complete collapse and that nothing would function if the Refinery were unable to operate.
Vučić recalled that sanctions against NIS have been effectively implemented for 37 days and that neither the business sector nor citizens have felt it, that we have significant reserves and that there is no reason to panic, but he also warned that these reserves cannot represent a permanent solution.
He stated that despite having enough reserves, we must not deplete them because then an imbalance would arise, and at the same time he asked the Serbian government to come before the parliament with a budget revision if necessary to purchase additional petrol and diesel.
Macut underlined that the government will meet on a daily basis because Serbia is in a first-degree crisis situation.
He expressed his gratitude to the President of the Republic for his assessment of the situation in which Serbia finds itself, as well as to the relevant ministers.
First Deputy Prime Minister and Minister of Finance Siniša Mali warned that the situation with NIS must be resolved as soon as possible, because it threatens all projects being implemented in the country, as well as the country’s growth, stability and credit rating.
According to him, in the past few months, Serbia has done everything our friends from Russia said to do, and we have supported them in everything, but it has not yielded results.
Accordingly, as he pointed out, the final moment has come for us to think about Serbia and to do what is in the interest of our state and all of us.
Minister of Mining and Energy Dubravka Đedović Handanović said that national energy reserves have been preserved thanks to the fact that they were systematically increased in the previous period, so that the country would be prepared for unforeseen situations.
However, we must preserve the reserves. Running the energy sector under the conditions of sanctions against NIS is almost impossible, and as minister I am ready to resign, she stressed.
Without the Pančevo Refinery, as she noted, there is no normal functioning for us. There is no more time and we cannot wait for more than another three to four days, because there is currently no oil inflow and the Refinery will then have to stop operating.
-
Author: Slobodan Miljević -
Author: Slobodan Miljević -
Author: Slobodan Miljević -
Author: Slobodan Miljević -
Author: Slobodan Miljević -
Author: Slobodan Miljević -
Author: Slobodan Miljević
-
Belgrade/Budapest, 21 January 2026Belgrade-Budapest high-speed rail of strategic importance for region
-
Belgrade, 21 January 2026Further strengthening of economic relations with UAE
-
Belgrade, 20 January 2026Significance of return of Belgian armed forces to KFOR Mission in Kosovo and Metohija
-
Belgrade, 20 January 2026Continuation of cooperation with EU to strengthen democratic processes
-
Belgrade, 19 January 2026European Union remains Serbia’s strategic development framework
-
Belgrade, 19 January 2026Reconstruction of Blue Tomb memorial complex to be carried out this year
-
Belgrade, 19 January 2026Serbia stands with Spain following tragic train accident
-
Belgrade, 16 January 2026France confirms support for Serbia’s reforms, European path
-
Belgrade, 16 January 2026Taking measures to repair damage in areas affected by severe weather
-
Belgrade, 16 January 2026Importance of preserving regional stability with full respect for international law