NIS is majority-owned by the oil division of Russian energy giant Gazprom

NIS is majority-owned by the oil division of Russian energy giant Gazprom

US sanctions on Serbia's majority-Russian-owned NIS oil company, which operates the country's sole refinery, took effect on Thursday after months of delay.

The United States sanctioned the company, Petroleum Industry of Serbia (NIS), in January as part of its crackdown on the Russian energy sector following Moscow's invasion of Ukraine in 2022.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.