Storyline: Serbia may face economic shocks as the Naftna Industrija Srbije (NIS), the country's only oil refinery, has been forced to halt operation due to U.S. sanctions. Serbian President Aleksandar Vucic said on Tuesday that his country had not yet been able to obtain a U.S. exemption for NIS, and therefore the Serbian government had approved the closure of the company's refinery. In January this year, the U.S. Office of Foreign Assets Control (OFAC) imposed sanctions on the Russian oil industry, affecting the NIS, which is mainly owned by Russia. The sanctions took effect on Oct. 9. Russia's Gazprom Neft and Gazprom hold 44.9 percent and 11.3 percent, respectively, of the company's shares. The U.S. government is seeking a complete withdrawal of Russian investment from the company, demanding a buyer be found for the Russian stake by Feb. 13 of the coming year. In November, the NIS applied to the United States for temporary exemption from sanctions while negotiations for the sale of its stake are underway, but the United States has not yet responded so far. A China Central Television (CCTV) reporter visited Belgrade on Wednesday. While NIS gas stations were still operating normally, Serbian citizens, however, expressed dissatisfaction with the U.S. measures. "I believe the U.S. move is politically motivated and aimed at forcing our government to impose sanctions on Russia," said resident Vlada. "I feel like I'm being blackmailed. What does this have to do with us? Why does the United States make decisions for us when we have no connection?" said another resident Aleksandar. Veljko Mijuskovic, professor of Faculty of Economics at University of Belgrade, said that Serbia did not cause the crisis, yet it is bearing the consequences. "Serbia has not any movement that is negative for the situation. And definitely we are, I would say, a victim of the circumstances which are much beyond our control," he said. Mijuskovic also noted that although Serbia's fuel reserves can meet the country's short-term energy needs, the refinery's shutdown could have a ripple effect on the Serbian economy, negatively impacting oil derivatives, transportation and logistics, agriculture, and retail sectors. Shotlist: Belgrade, Serbia - Dec 3, 2025: 1. Various of building, sign, flags of Naftna Industrija Srbije (NIS), Serbia's only oil refinery 2. SOUNDBITE (Serbian) Vlada, resident (full name not given): "I believe the U.S. move is politically motivated and aimed at forcing our government to impose sanctions on Russia." 3. SOUNDBITE (Serbian) Aleksandar, resident (full name not given): "I feel like I'm being blackmailed. What does this have to do with us? Why does the United States make decisions for us when we have no connection?" 4. Various of gas station staff refueling vehicles 5. Various of vehicle at gas station, fuel dispensers 6. SOUNDBITE (English) Veljko Mijuskovic, professor, Faculty of Economics, University of Belgrade: "Serbia has not any movement which is negative for this situation. And definitely we are, I would say, a victim of circumstances which are much beyond our control." 7. Various of traffic [Restrictions: No access Chinese mainland]