The US has postponed sanctions against Serbian oil company NIS for the last time: a key company could be at risk
The United States has postponed for the fifth and final time the imposition of sanctions against Serbian oil company Naftna Industrija Srbije (NIS), which is controlled by Russia’s Gazprom. According to Reuters, the new exemption from the sanctions list has been extended until the end of August. No further extension is planned after that.
Serbian Energy Minister Dubravka Čedović Handanović said that Belgrade wants to keep oil supplies stable and called “the exclusion of NIS from OFAC sanctions a priority.” She said that dialogue between the US and Russia remains an important condition for this.
NIS is a strategically important company for the Serbian economy. It operates the country’s only oil refinery in Pančevo (near Belgrade), as well as the largest network of gas stations and logistics infrastructure in the fuel sector.
According to the ownership structure:
• 44.9% of NIS shares are owned by Gazprom Neft (Russia),
• 11.3% by Gazprom,
• 29.9% by the Serbian government,
• the rest by minority investors.
It was Russian control over the majority of shares that led to NIS being sanctioned by the US Treasury Department’s Office of Foreign Assets Control (OFAC). Initially, the company was to be completely blocked in January 2025, but since then it has received four temporary licenses to continue operations.
In July 2025, NIS applied for a temporary license for the fifth time and received it for one month, until the end of August. During this period, Gazprom Neft was again reminded of the requirement to withdraw from the Serbian company’s shareholders.
Analysts note that if the sanctions are imposed in full, this could destabilize the fuel market in Serbia, create logistical disruptions, and cause oil prices to rise.
An alternative could be a transfer of control from Russian shareholders to European or Middle Eastern investors, but negotiations on this issue have not yet been officially confirmed.
NIS is a leader in the Serbian petroleum products market and is actively developing its operations in Romania, Bulgaria, and Bosnia and Herzegovina.
The company is also involved in oil and gas exploration and production, lubricant manufacturing, and power generation.
Source: https://t.me/relocationrs/1228
Serbia has decided to repatriate all its gold reserves stored abroad and transfer them to the territory of the country. This is reported by Bloomberg agency, citing sources in financial circles. The total value of assets is estimated at about 6 billion dollars at current market prices.
According to the agency, Serbia will be the first country in Eastern Europe to decide on the full return of physical gold reserves from such traditional depositories as Great Britain, Switzerland and the United States.
The decision comes amid increasing geopolitical instability, inflationary pressures and uncertainty in global markets. Serbian authorities view the physical placement of gold domestically as an additional guarantee of liquidity and sovereignty, especially in case of emergency economic or currency shocks.
As of mid-2025, Serbia’s foreign exchange reserves total approximately EUR 25.3 billion, of which:
– more than 40 tons of gold (equivalent to about EUR 2.7 billion),
– the rest are foreign currency assets, including euros, dollars and SDRs (IMF Special Drawing Rights).
Traditionally, a significant portion of Serbian gold reserves has been held at the Bank of England in London, one of the world’s largest repositories of precious metals. This bank serves more than 30 nations, including the Netherlands, Germany, Hungary and others, which have also undertaken partial gold refunds over the years.
The reasons for the return are explained by several key considerations:
– Guarantee of physical control – in the face of possible international sanctions, geopolitical risks or asset blockages.
– Precedents for blockages – including the UK’s refusal to transfer gold to Venezuela, which heightened anxiety among developing countries.
– Strengthening macro-financial resilience – physical gold domestically is seen as a tool to stabilize national currencies in the event of crises.
Gold repatriation is a global trend in recent years. Such steps have been taken by:
– Germany – returned more than 300 tons of gold from Paris and New York;
– Hungary – tripled its gold reserves and transported them to the country;
– Turkey – repatriated the entire volume of gold from the US in 2018.
Serbia’s decision to return gold to its territory is not only a financially logical move, but also a political signal reflecting the growing role of sovereignty and autonomy in the management of state assets. Against the backdrop of global fragmentation of economic blocs and sanctions risks, even small economies are seeking to minimize external dependence, especially in matters related to key reserves.
https://t.me/relocationrs/1208
In the Serbian capital of Belgrade, police detained two men and confiscated about 20 kg of cocaine — the largest such shipment ever seized in the city.
According to Interior Minister Ivica Dačić, following a joint operation by the Criminal Police Directorate of the Ministry of Internal Affairs and the Belgrade High Prosecutor’s Office, the arrest took place during the transfer of the drugs. The convicted men are M.N. (41) and S.J. (24). They have been charged with “illegal production and trafficking of narcotic drugs.” The detainees will remain in custody until the case is brought to court.
According to EMCDDA and UNODC data, cocaine retails in Western and Central European countries for an average of €40-60 per gram, depending on purity and region. In some countries, the price can reach €100-120 per gram.
If sold at retail, the confiscated shipment could have been worth up to €1,200,000.
China’s MINTH Holdings Limited is investing 950 million euros in the construction of new production facilities for the automotive industry in Leskovec and Cuprija, the office of Leskovec Mayor Goran Cvetanovic said today.
The first phase of the project in Leskovec is expected to create 1,000 jobs, and the entire investment cycle is expected to last five years, Beta reports.
The Memorandum of Understanding was signed the day before at the Serbian Government building by the Mayor of Leskovec Goran Cvetanovic, the Minister of Economy Adriana Mesarovic and representatives of MINTH.
MINTH Holdings was founded in 1992 in China and is headquartered in Ningbo.
MINTH is one of the world’s top 100 auto component manufacturers and supplies products to leading automakers: BMW, Mercedes-Benz, VW Group, Tesla, Honda, Toyota, Nissan, Ford, etc.
The company specializes in the production of aluminum, plastic and composite body parts, trim panels, frames, roofs and interior parts. It has plants in China, the USA, Mexico, Germany, Thailand and, since 2018, in Serbia (Loznica).
MINTH is already active in Serbia, producing components for the world’s leading automakers. The new investment confirms the strengthening of industrial cooperation between Serbia and China in the field of high-tech production.
Why Serbia?
– Geographical advantage: Serbia is located at the crossroads of supply between the EU and Asia, making it a logistically convenient base.
– Duty-free access to the EU, EFTA, Turkey and EAEU markets under a number of agreements.
– Low costs: labor costs are lower than in Eastern Europe and Turkey.
– Stable investment cooperation with China: including the One Belt, One Road initiative and Serbia’s participation in the China-Central and Eastern Europe (17+1) format.
The importance of the project for Serbia
– Employment growth in southern Serbia, a region with traditionally high unemployment.
– Diversification of industry with a focus on high-tech production.
– Deepening Chinese presence in the economy – not only infrastructure, but also the real sector.
– Industrial transformation of Leskovets, which was historically a textile center but has lost industrial momentum in recent years.
Risks and challenges
– Dependence on one large investor at the regional level
– Possible dominance of China in strategic sectors, including through subsidies and tax preferences
– The need to ensure infrastructure readiness (electricity, water, roads), which will require efforts from local authorities and the state budget
The MINTH project is not just a local plant, but a strategic element in the supply chain of the global automotive industry. For Serbia, this is an opportunity to strengthen its position on the industrial map of Europe and grow from a subcontractor territory into a European production hub.
Source: https://t.me/relocationrs/1198
According to information published in the Ukrainian media, former Secretary of the National Security and Defence Council (NSDC) of Ukraine Oleksandr Litvinenko may become the next Ukrainian ambassador to Serbia. This was reported by Verkhovna Rada deputy Oleksiy Goncharenko on his Telegram channel, citing sources in the presidential administration.
It is reported that Vladimir Zelensky will soon approve Litvinenko’s appointment to the diplomatic mission in Belgrade by decree.
There has been no official confirmation from the Office of the President or the Ministry of Foreign Affairs of Ukraine yet.
Oleksandr Valeriyovych Litvinenko, born on 27 April 1972 in Kyiv, is a Ukrainian statesman and public figure.
Education: graduated from the Institute of Cryptography, Communications and Informatics of the Russian FSB Academy (1994), received academic degrees in Kyiv and London.
He began his career in the Security Service of Ukraine (1994–1998), then held positions in the National Security and Defence Council, the Security Service and the National Institute for Strategic Studies.
In 2021–2024, he headed the Foreign Intelligence Service of Ukraine.
On 26 March 2024, by presidential decree, he became Secretary of the National Security and Defence Council, holding this position until July 2025, after which he was dismissed.
Litvinenko is a Doctor of Political Science, professor, major general, and Honoured Worker of Science and Technology of Ukraine.
According to Volodymyr Zelenskyy, Litvinenko is ‘a professional with an excellent reputation,’ and he himself is a key figure in the formation of diplomatic strategies.
It is expected that after the decree is signed, the appointment will be sent to the Serbian Assembly for approval. If the candidacy is approved, Alexander Litvinenko will head the Ukrainian diplomatic mission in Belgrade.
The main task is to strengthen bilateral political and economic dialogue, strengthen Ukraine’s position in the Balkans and promote European integration.
The appointment of Oleksandr Litvinenko as Ukraine’s ambassador to Serbia reflects Kyiv’s desire to strengthen its diplomatic presence in the Balkans. His experience working in the National Security and Defence Council, the Foreign Intelligence Service, and strategic institutions makes him a strong candidate for strengthening Ukrainian-Serbian relations.
Bosnian investment group ASA Group has announced the completion of its acquisition of the Zito Backa flour mill in Kula, Serbia. This was stated in the company’s official press release published on Friday.
According to ASA Group, the deal makes its subsidiary ASA Trading a leader in Serbia’s grain sector in terms of grain trading volume, storage capacity, and processing capacity.
“This is a logical continuation of our expansion strategy in key sectors of the region. Zito Backa has more than a century of tradition, reliable quality, and infrastructure that matches our international ambitions,” said ASA Group CEO Eldin Hadzislimovic.
The company emphasized that it is building on its previous experience in asset integration, including the purchase of the Zitoprodukt mill in Bačka Palanka in 2018. According to ASA Group representatives, the new acquisition will complement the ecosystem in the consumer goods segment and strengthen the group’s export potential in Southeast Europe.
In addition to the grain sector, the holding company is actively developing projects in other industries, including date and vegetable oil production in Morocco and Turkey, as well as renewable energy in Bosnia and Herzegovina (solar power plants in Bosanski Petrovac).
Zito Backa is one of Serbia’s oldest flour milling companies. It was founded over 100 years ago. In 2013, the plant in Kula was modernized: capacity was increased to 220 tons of flour per day (in wheat equivalent) and a 50,000-ton grain storage facility was built. The company is known for its high-quality flour and stable supplies to domestic and export markets.
https://t.me/relocationrs/1170
