World Business Report Oil shortage could leave country without fuel
Dec 2, 2025
In this captivating discussion, Guy Delany, a BBC correspondent with firsthand insights into energy issues, examines the impact of sanctions driving Serbia's only oil refinery to shut down. He delves into the country's heavy reliance on this refinery and the potential for economic fallout. Meanwhile, Ross Benes, a senior analyst at eMarketer, shares his expertise on Netflix's ambitious bid for Warner Bros Discovery assets, exploring the strategic significance behind the deal. An unexpected mention of a rare Fabergé egg auction adds a touch of glamour to the conversation.
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Serbia Faces Immediate Fuel Vulnerability
- NIS supplies over 80% of Serbia's petrol and diesel and almost all jet and heavy fuels.
- Shutting its refinery risks widespread shortages affecting commuters, haulage and Air Serbia.
Sanctions Hit Ownership Not Just Operations
- US sanctions target Gazprom Group ownership to cut revenue to Russia amid the war.
- Serbia is caught between US demands and Gazprom's refusal to sell, complicating a quick resolution.
Vučić Says Serbia Is Stuck In Great Power Politics
- President Aleksandar Vučić described the situation as between Russia and the US playing politics.
- He argued Gazprom's reluctance to sell is political, not financial, and that Serbia is the one suffering now.