The Government held the first meeting of the Working Group for monitoring the activities of the US Ministry of Finance, the Office for the Control of Foreign Assets on the potential introduction of sanctions on NIS. Dubravka Đedović Handanović, the relevant minister, says that the Government is working to prevent the negative consequences of sanctions and that the first task of the Government is to ensure that the NIS works smoothly. Meanwhile, the sanctions shook the world oil market, and the price of a barrel exceeded 81 dollars.
The Government expects that the clarifications on the sanctions against NIS that Serbia requested from the American administration will arrive by the end of the day or tomorrow. In the transition period, the first task is for NIS to continue operating.
“We must prepare to continue the dialogue with the incoming American administration in order to be able to prepare a platform for negotiations with the Russian side. It is certainly important that the oil industry continues to work unhindered, but also that we have all the information from that side, both from the market and from the company”, points out Dubravka Đedović Handanović, who chaired the Working Group.
How to reach an agreement with all parties
Experts estimate that it is difficult to find a solution that would satisfy both the United States of America and Russia and Serbia. In particular, they say, it is difficult to determine what the price would be for the eventual purchase of a share of ownership in NIS.
“Perhaps the best for one, the other and the third party, it is not the same for everyone, but it is to make an agreement with the Russians, if we could be at least the majority owners. That would be the most optimal solution for Serbia. That would mean that we don’t have to allocate a lot of money”, says economist Ljubodrag Savić.
Moscow is looking for a way out
American sanctions introduce restrictions for companies engaged in exploitation, oil processing and production and equipment for oil facilities as well as shipping companies.
Moscow says – we are looking for a way out of the newly created situation.
“Russia will look for alternative ways for its energy sources. Such decisions cannot but lead to destabilization of the international energy and oil markets. First, we will very carefully monitor and adjust the work of our companies in order to minimize the consequences of that illegal decision,” Kremlin spokesman Dmitry Peskov emphasizes.
Earthquakes on the oil market
Analysts believe that this American package of sanctions is the strongest in the last few years. That is why disruptions on the world, and especially the European, oil market are inevitable.
“There will be significant disruption of Russian flows, at least initially. We think it could be up to a million barrels per day of Russian crude oil exports that have been disrupted. I think it will lead to an increase in the margin in processing, and then to higher prices of final products for consumers and will put some pressure on inflation,” warns Richard Bronze, an energy analyst.
And the oil market has already shaken. Around 65 oil tankers have anchored at several sea locations around the world, and oil prices are rising.
Last Monday, the barrel cost 76 dollars, now it already exceeds 81 dollars.
Source: RTS
Source: energetskiportal.rs
