US Sanctions Against Russia: Impact on Serbia’s Energy Sector and Lukoil’s Business in the US

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US Sanctions Against Russia: Impact on Serbia’s Energy Sector and Lukoil’s Business in the US

The only oil refinery in Serbia, owned by NIS, is operating at reduced capacity due to the United States’ requirements to divest Russian shareholders. Serbia’s Minister of Energy, Dubravka Jedovic, emphasized that the country has only four days to prevent a complete shutdown of the facility. She highlighted that the Serbian side is openly negotiating and is prepared for various scenarios, but the final decision depends on Washington.

This is reported by Finway

“We have four days to avoid a complete shutdown of the refinery, and therefore we once again ask OFAC and the US administration to issue NIS a license to operate while negotiations regarding the exit of Russian ownership are ongoing,” said Serbia’s Minister of Energy Dubravka Jedovic.

Issues at Lukoil Gas Stations in the US

Meanwhile, in the US, Lukoil-branded gas stations, particularly in New Jersey, are facing significant difficulties with processing payments via bank cards. These disruptions are caused by sanctions imposed by the US government. There are over 110 Lukoil gas stations operating in New Jersey, accounting for about 60% of the company’s locations in the country. Traditionally, up to 85% of sales at these gas stations are made through card payments, making technical failures particularly impactful for businesses and consumers.

US Senators’ Position on Sanctions Against Arctic LNG 2

Several Democratic senators in the US have expressed concern over the insufficient effectiveness of enforcing sanctions against the Russian export terminal Arctic LNG 2 by President Donald Trump’s administration. They note that since August, the terminal operator, Novatek, has sold approximately 14 batches of liquefied natural gas, providing Chinese companies with significant discounts of 30–40%. According to the senators, this could contribute to funding Russia’s war against Ukraine and undermines the economic pressure that sanctions are supposed to exert.