SAVIĆ: LOCAL MARKET NOT THREATENED BY SANCTIONS AGAINST NIS

BANJA LUKA, OCTOBER 9 /SRNA/ – The Chairman of the Petroleum Products Trade Group at the Republika Srpska Chamber of Commerce Đorđe Savić told SRNA that the local market is not threatened by the sanctions the United States imposed on the Petroleum Industry of Serbia /NIS/.

"The market of Republika Srpska and BiH was well-prepared for the sanctions," Savić said.

He noted that there has been a suspension of deliveries from Pančevo for the past ten days, which has not affected supply or retail prices at gas stations.

"We hope to continue operating under this regime. If there are no further complications, we currently see no problems with the supply of Republika Srpska and BiH markets," Savić stated.

According to him, the current diesel price in Republika Srpska ranges from BAM 2.31 to 2.35, as the global market has been stable for the past month or two.

"There has even been a slight price decrease recently, and as things stand now, we don’t expect any major changes in global market prices over the next seven to ten days," Savić said.

The sanctions imposed by the United States on the Petroleum Industry of Serbia due to the company's majority Russian ownership came into effect this morning, after Washington declined to renew its license, NIS announced.

NIS emphasized that they have secured sufficient crude oil reserves for processing at this time, and that gas stations are fully supplied with all types of petroleum products.