Janaf to Continue Delivering Oil to NIS

Jadranski Naftovod (Janaf) has announced that it has received the approval of the continuation of the implementation of the agreement on the transport of crude oil, signed with Naftna Industrija Srbije (NIS), whose majority owner is the Russian Gazprom, RTS reports.

On March 29, Janaf announced that the EU sanctions toward Russia encompassed the agreement on the transport of crude oil signed with NIS.

The Croatian company announced through the Zagreb Stock Exchange that the Council Regulation (EU) of April 8, 2022, amending the Regulation concerning restrictive measures in view of Russia's actions destabilizing the situation in Ukraine, enabled the continued implementation of the Agreement on the Transport of Crude Oil that Janaf d. d. signed with NIS a. d. for the period from January 1 to December 31, 2022.

The agreement reserves the transport capacities of JANAF under the take-or-pay principle for the transportation of 3.2 million tons, plus/minus 10%, of crude oil beyond May 15, 2022, as well.

In late March, the president of Serbia, Aleksandar Vucic, stated that the problem of the delivery of oil would be solved together with Croatia and the EU.

NIS a.d. Novi Sad

JANAF d.d. Zagreb

Gazpromneft

Jadranski naftovod

Janaf

Council of the European Union

EU Council Regulation

Janaf transport capacities

transport of raw oil

delivery of oil

sanctions against Russia

crisis in Ukraine