Croatian Economy Minister Ante Šušnjar announced that Croatia is prepared to enter the ownership structure of Serbia’s Oil Industry (NIS), which is majority-owned by Russia, and potentially take control of the retail market. This move could facilitate operations for both countries.
NIS has not received a new exemption from U.S. sanctions targeting the Russian energy sector, although JANAF obtained a license to transport oil for NIS until October 15. Šušnjar noted that all available oil in JANAF terminals and pipelines has already been transported, leaving no current supply to Serbia.
He emphasized that Croatia, as a loyal NATO and EU partner, has invested significantly in its energy infrastructure and is ready to supply oil to Hungary, Slovakia, and Serbia when geopolitical conditions allow.
Regarding a potential Croatian takeover of NIS, Šušnjar stated that the country is ready to ensure continuity of JANAF operations and protect the interests of NIS, which has had a 40-year close relationship with the company. He also highlighted that 20% of Bosnia and Herzegovina’s fuel market is supplied via the Pančevo refinery, making regional supply continuity an additional consideration. The upcoming modernization of the Rijeka refinery is expected to increase capacity and support supplies to Bosnia and Serbia.
