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Trump extends sanctions against Russia for one year

SDY has granted a 30-day postponement of sanctions against the main Serbian oil company Naftna Industrija Srbije (NIS)

Feb 28, 2025 07:22 150

Trump extends sanctions against Russia for one year  - 1

US President Donald Trump has decided to extend the state of emergency, which provides for a number of sanctions against Russia, for one year, AFP reported, quoted by news.bg.

The agency referred to a document from the White House, submitted to the US Federal Register.

"I am extending the national emergency imposed by Executive Order 13660 for one year," Donald Trump wrote.

Thus, the US president extended the term of a number of anti-Russian sanctions, which were imposed by executive orders of US presidents in 2014, 2018. and 2022.

The decree on the emergency regime in connection with the Ukrainian events in the USA was introduced back in 2014. Then, President Barack Obama's Executive Order 13660, issued on March 6, 2014, provided for the freezing of the assets of "a number of individuals involved in the illegal annexation of Crimea".

Initially, it was about those who contributed to the accession of Crimea to the Russian Federation.

Then, already during the first presidencies of Trump and Joe Biden, the list of these sanctions under this regime was expanded several times.

Earlier, during the first meeting of his cabinet, the US president ruled out the possibility of lifting sanctions against Russia before the conclusion of a peace agreement to end the war in Ukraine.

The United States has granted a 30-day postponement of sanctions against the main Serbian oil company Naftna Industrija Srbije (NIS), Serbian President Aleksandar Vučić announced, reported news.bg

He posted on Instagram a copy of an official document from the US Treasury Department confirming the extension.

"We have received an additional 30 days for the Serbian oil industry. Good news for the citizens of the country", Vucic wrote.

The decision comes after President Joe Biden's administration announced in December that it would impose sanctions on NIS due to its Russian ownership. The company is majority-controlled by "Gazprom Neft" (50%) and "Gazprom" (6.15%), while the Serbian government owns only 29.8%.

In January, the US imposed its largest-ever sanctions on the Russian oil sector, including an order for "Gazprom Neft" to exit NIS's capital within 45 days. In an attempt to avoid sanctions, Gazprom Neft transferred 5% of its stake to Gazprom, reducing its control over the company.

NIS covers about 80% of Serbia's oil needs, making the country highly dependent on the Russian energy sector. However, Hungarian energy company MOL Group has announced its readiness to increase its supplies to Serbia.

"Serbia can always count on MOL Group. We are ready to increase supplies according to our capabilities and even double them," Csaba Zóter, director of the Hungarian company's fuels division, said last week.