The EU will enable the Western Balkans to continue buying fossil fuels from Russia

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The European Union is working to clarify a new set of sanctions against Russia in order to enable the countries of the Western Balkans to continue buying fossil fuels from Russia. The move follows a complaint from our country that there may be uncertainty in fuel supply due to a new round of restrictions, write Marton Dunai from Budapest and Valentina Pop from Brussels, reports the Financial Times.

The latest round of EU sanctions against Russia bans participation in any transactions with companies outside the EU that are 50 percent or more owned by Russian groups, including Gazprom. We remind you that Gazprom owns 51% of NIS.

These rules would de facto ban NIS from buying Russian oil from previous intermediaries, such as Glencore and Vitol.

Officials in Brussels are currently working on applying the same rules as EU members (which can still trade in Russian fossil fuels), given that the Western Balkans, geographically, is surrounded by EU members, said a person familiar with the events.

– We are currently in contact with Serbian authorities to clarify all their concerns about the consequences of restrictive measures, said European Commission spokesman Peter Stano, adding that they are working with all partners in the Western Balkans to reduce the negative impact of war on their economies and society, Blic reports.