02-January-2026
Corporate News
 
US offers temporary sanctions relief to Russian-controlled Serbian oil firm
01-Jan-2026

The United States has granted a majority Russian-owned Serbian oil company a temporary reprieve from sanctions targeting Moscow's invasion of Ukraine, a Serbian minister said on Wednesday. Washington's sanctions on the Petroleum Industry of Serbia (NIS), part of its crackdown on Russia's energy sector, forced the shutdown in early December of Serbia's sole oil refinery, which supplies around 80 percent of the Balkan country's fuel needs.

News Source:- https://timesofindia.indiatimes.com/business/international-business/us-offers-temporary-sanctions-relief-to-russian-controlled-serbian-oil-firm/articleshow/126283006.cms
 
 
 

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