On October 26, Serbian President Aleksandar Vučić announced on Instagram that he would hold talks with Russian, American, and European partners to find a solution for gas and oil supplies. He added that if no agreement is reached, Serbia will “make its own decisions” the following week.
Vučić also noted that recently imposed sanctions on Rosneft and Lukoil would take effect on November 21. Western countries, including the U.S., EU, and the U.K., introduced these sanctions on October 23 to pressure Moscow over its invasion of Ukraine.
The president said Serbia “might face” challenges with gas supplies and already faces a clear problem with oil supply. On October 20, Serbian authorities stated that the country is in a difficult position regarding gas after the European Union Council decided to gradually stop importing Russian natural gas.
However, EU Commissioner for Enlargement Marta Kos told the European Parliament on October 21 that the EU will not cut gas supplies to Serbia, which relies primarily on Russian imports. A further issue, according to Serbian officials, is that Russia extended Serbia’s gas arrangement only until the end of the year, rather than the three years Serbia had expected.
Regarding oil, U.S. sanctions on the Serbian Oil Industry (NIS) came into effect in October due to Russian ownership. NIS is the only company in Serbia involved in oil exploration, production, and refining.
Vučić highlighted an additional challenge for domestic oil supply: a recent accident at the MOL oil refinery in Hungary, which may have been sabotage, according to the ongoing investigation. Serbia had been relying on Hungary for energy support due to the sanctions on NIS.
He added that while Serbia had arranged imports of petroleum products through MOL, the refinery fire raises concerns about whether Hungary will have enough oil for its own needs.
