The United States has suspended sanctions for 30 days on Serbian oil company NIS, which is majority-owned by Russian companies and runs the country's only oil refinery, President Aleksandar Vucic said on Thursday, citing a U.S. Treasury document.
Vucic posted a photo of the document on his Instagram page. Reuters was not immediately able to verify it.
"We got 30 additional days for NIS. This is good news for the citizens of Serbia," Vucic said in his post.
The United States placed sanctions on Russia's oil sector on January 10, and gave Russian oil company Gazprom Neft (SIBN.MM), opens new tab until Thursday morning to exit ownership of NIS.
On Wednesday, Gazprom Neft reduced its majority stake in NIS by transferring around 5% of its share to its parent company Gazprom (GAZP.MM), opens new tab.
A sanctions reprieve would be a relief for Serbia. NIS supplies about 80% of the domestic retail market with crude oil and gas derivatives.
If sanctions were imposed, it would be unable to import crude oil through Croatia's pipeline operator Janaf.
The United States is yet to comment publicly since the deadline expired. It is not clear if it will accept the stake swap long term, given that Gazprom Neft is the oil arm of energy giant Gazprom.
The Serbian government holds a further 29.87% stake with small shareholders accounting for the remainder.
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U.S. President Donald Trump has told his advisers that he plans to speak directly with Venezuelan President Nicolas Maduro according to Axios, as Washington designated him as the head of a terrorist organisation on Monday. A claim Maduro denies.
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European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
A federal jury in California ruled on Friday that Apple must pay $634 million to Masimo, a medical-monitoring technology company, for infringing a patent related to blood-oxygen reading technology.
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