Croatian JANAF pipeline stands to lose up to 18 million Euros after Serbian NIS hit with sanctions

The American sanctions on Serbia's Oil Industry might lead to significant financial losses for Croatia's Adriatic Pipeline (JANAF). Croatia put forward a feeler to acquire control over Serbia's Oil Industry (NIS) to stabilize JANAF's operations, sparking political banter between Croatian and Serbian leaders, which reflects old Balkan rivalries and energy independence goals.

Oil industry sanctions: Serbia is once again a victim of its own stupidity

On October 9th, the Serbian Oil Industry NIS faced US sanctions due to its Russian ownership. The sanctions impact its operations, causing payment issues at petrol stations and halting fuel sales to airlines. In response, Hungary's MOL will increase oil supplies to Serbia. Any hardships caused to local population most likely will not lead to re-examining the failed Serbian policies that lead to this.

Vladimir Putin decided to put in a good word for Serbian Gen Z protests

After eleven months of protests in Serbia, Russian President Vladimir Putin expressed understanding for the student and civic activists, calling them patriots deserving of dialogue. He criticized Western interference, asserting that Serbia’s struggles are an internal matter. The protests coincide with the anniversary of the fall of Milošević, highlighting deep-rooted nationalist myths.

Let them eat BRICS

Dragan Djilas of Serbia's Freedom and Justice Party emphasized the need for a strong European message to the Western Balkans, advocating for elections in candidate countries to amplify their voices in the EU. Meanwhile, sentiments against EU inclusion rise, with leaders like Aleksandar Vulin promoting "sovereignty" and alternative alliances like BRICS over EU membership.

Nedeljnik: Gazprom exited ownership in NIS, another company from the Gazprom group now has 11.3 percent of the capital

The St. Petersburg firm "Intelligence" acquired 11.3 percent of Naftna industrija Srbije's shares, previously owned by Gazprom, without compensation. This change comes amid NIS's repeated requests for exemptions from US sanctions. The largest shareholder remains Gazprom Neft, while Serbia's potential interest in buying NIS faces financial constraints.