US set to sanction Serbia’s main oil company over Russian ownership, Vučić says

Serbian oil company Naftna Industrija Srbije (NIS) faces financial sanctions from the United States due to its Russian ownership, according to Serbian President Aleksandar Vučić. The U.K. and EU are likely to follow suit, potentially halting oil shipments through a pipeline from Croatia. NIS is mostly owned by Russia’s Gazprom and Gazprom Neft, with the U.S. sanctions possibly taking effect by January 1.

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