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flag Serbia’s oil refinery shut down after U.S. denied crude import license over Ukraine sanctions, threatening jobs and fuel supply.

flag Serbia’s sole oil refinery in Pancevo has shut down after the U.S. denied a license needed to import crude, citing sanctions related to Russia’s war in Ukraine. flag President Aleksandar Vucic said the decision, which he called confusing and final, leaves Serbia to bear the consequences despite no sign of U.S. relief. flag The closure threatens 13,500 jobs and could trigger secondary sanctions on Serbian financial institutions. flag NIS, which supplies 80% of the country’s fuel and operates 20% of petrol stations, will retain limited payment access for a week to cover wages and suppliers. flag Fuel stocks are sufficient through January, and Serbia is negotiating alternative supply deals with countries including Hungary, the UK, and Arab nations, with a January 15 deadline. flag Gas talks with Russia are ongoing, with a December 5 deadline; failure to reach an agreement will prompt negotiations with other suppliers.

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