Serbia's only oil refinery is about to shut down.
It's World Business Express from the BBC World Service.
I'm Liana Byrne.
Netflix's circling parts of Warner Brothers' discovery and a rare diamond-studded Faberge egg is going under the hammer.
Yes,
Serbia's only oil refinery is now preparing to shut down after the US didn't grant a temporary waiver on sanctions.
The refineries run by NIS, a company majority owned by Russia's Gazprom Group,
and under US sanctions since October.
Because of those sanctions, NAIS can no longer receive crude oil through Croatia's Janov pipeline.
And on Gazprom refusing to sell its shares,
which Washington set as a condition for lifting sanctions,
the refinery has started winding down operations.
Our correspondent Guy Delani is covering this one for us.
Guy, tell me this, how much of Serbia's fuel supply depends on this refinery?
The vast majority.
So, NIS, as they call the company in Serbia,
supplies more than four-fifths of the country's petrol and diesel and almost all of its jet and heavy fuels.
So, that's a problem for everyone from commuters to road haulage to the national airline Air Serbia.
And NIS also operates almost half the fuel filling stations in the country.
Now, what exactly are the US sanctions targeting and why?