Energy specialist Aleksandar Kovačević stated that it is “difficult to see a direct causal link between supply security and financial sanctions on a single company.” He emphasized that Serbia has lacked fully secured energy supply for the past 53 years, and this is not a new issue.
Kovačević explained that in cases where a company cannot access its bank accounts, courts can declare bankruptcy and appoint a trustee responsible for maintaining operations, including supply security. He also noted that creditors’ rights must be respected, highlighting that NIS carries significant loans.
Recalling historical practices, he pointed out that even in 1989, Serbia maintained strategic oil reserves of 90 days and had measures in place, such as river fleet capabilities and domestic production, to ensure supply continuity despite lacking full confidence in pipeline infrastructure. He stressed that countries without access to the sea face particularly delicate supply security challenges.
President Aleksandar Vučić added that the NIS refinery could operate without additional oil supply until November 1, noting that operations beyond that would be extremely difficult. He mentioned that NIS board members requested an extraordinary shareholders’ meeting to receive updates from the Russian owners on their plans.
