The Petroleum Industry of Serbia (NIS) is on the brink of shutting down its only oil refinery due to U.S. sanctions imposed over its majority Russian ownership. Serbian President Aleksandar Vucic warned that if the sanctions are not lifted within four days, the state may take control of the refinery. The sanctions, which began affecting NIS in October, have already led to reduced operations and halted crude oil deliveries. Vucic expressed concern that these sanctions could severely impact Serbia's economy, especially during winter when fuel and electricity are critical. NIS has stated it is preparing for a potential shutdown but continues to supply the domestic market using previously secured stocks. The U.S. is pushing for complete Russian divestment from NIS, which is primarily owned by Gazprom Neft and Gazprom.