Serbia says sanctions on Russia pose financial stability risks
Central bank sounds warning as government threatens to divest Russian stakes in domestic oil refiner
The National Bank of Serbia has said it will not allow the stability of the domestic financial system to be placed in jeopardy after the US imposed fresh sanctions on Russia, the country’s largest energy supplier.
On November 25, Serbia’s president Aleksandar Vučić said the state would take over Naftna Industrija Srbije (NIS) if the US Treasury did not provide the company with a licence to operate over the following two days.
Gazprom Neft, the oil arm of Russian energy major Gazprom, owns a 44.85%
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