
National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic said on Wednesday the central bank has been warned of potential secondary sanctions over Serbia’s Russian majority-owned oil industry (NIS), which is under US sanctions.
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“To us, that is a serious threat and we take that warning very seriously,” Tabakovic said at the presentation of the November 2025 inflation report.
She added that the NBS has not received a more specific explanation as to what the secondary sanctions would be.
“The very term sanctions doesn’t sound good. I hope those sanctions won’t happen because that would mean a blockade of all payments,” Tabakovic emphasized.
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