💨 Abstract

Serbian oil firm NIS, majority-owned by Russia's Gazprom Neft and Gazprom, is facing difficulties in purchasing oil from foreign traders due to pending US sanctions. The sanctions have affected NIS's operations and caused former clients to seek alternative fuel suppliers. NIS supplies around 80% of Serbia's gasoline and diesel and 90% of jet fuel and heavy fuel oil.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖