Serbia will not receive Russian oil from November 1 due to EU sanctions: President Vucic

Serbia's president, Aleksandar Vucic, declared on June 14 that due to EU sanctions, his country will be unable to acquire Russian oil. President Vucic announced that, as a result of the EU's latest round of sanctions, his country will no longer receive Russian oil exports beginning November 1. He said that Russian fuel is first brought by tankers to Croatia before being processed via the Adriatic oil pipeline.

Serbia imports almost all of its oil, which accounts for over 70% of its total consumption. According to Vucic, Western sanctions on Moscow will cost Belgrade $600 million this year. He previously stated that his country has suffered enormous losses as a result of the fines, mainly owing to limits on oil shipments.

"Dozens of new problems appear every day… From November 1, we will not be able to import Russian oil under the current sanctions, and who knows what other restrictions will be adopted by that time," Vucic stated.

This month, the EU agreed on a sixth round of sanctions against Russia in retaliation for its military offensive against Ukraine, including an oil embargo. Members of the EU have six months to stop importing Russian oil by sea or pipeline, and eight months to stop buying "other refined petroleum products." A temporary exemption will be granted to nations that are more reliant on Russian energy, such as the Czech Republic, Hungary, and Bulgaria.

Serbia needs 120,000 tonnes of fuel for the winter: Vucic

Serbia has declined to join the Russian sanctions coalition, despite rising pressure from the European Union, and continues to retain connections with Moscow. Last month, Vucic stated that Serbia would prioritise its own national interests. "The country is getting ready for a severe winter. We intend to provide all that is essential, We need to make sure we have enough fuel oil, but the NIS oil company does not have enough fuel oil. We'll import 20,000 tonnes of fuel oil, but we need 120,000 tonnes for the whole winter," he explained.

Vucic went on to say that there was no fuel oil available anywhere right now, so Serbia had to import it from Romania via barge. Since Russia's recognition of the non-government-controlled portions of Ukraine's Donetsk and Luhansk oblasts on February 21, 2022, and the unprovoked and unlawful invasion of Ukraine on February 24, 2022, the EU has placed a slew of additional sanctions on Russia. The EU has implemented sanctions on Russia in six packages, including targeted restrictive measures (individual sanctions), economic sanctions, and diplomatic measures. 

(Image: AP)