The United States is demanding a complete Russian exit from Serbia’s state oil company Naftna Industrija Srbije (NIS), more than 56% of which is owned by Gazprom. Only then could sanctions against NIS be lifted, Serbia’s Energy Minister Dubravka Djedovic-Handanovic said.
Serbian authorities opposed nationalizing NIS
“The U.S. administration for the first time clearly and unambiguously stated that it wants a complete change in NIS’s ownership structure and the removal of Russian assets from the company,” she said. According to her, Washington insists Belgrade should not attempt to conceal Russia’s presence in NIS.
Djedovic-Handanovic said the Serbian government received this demand on November 14 in response to a request from NIS’s lawyers.
The U.S. gave Serbia permission to negotiate a change of ownership at the oil company until February 13, “but not to continue NIS’s operations.”
The minister said Serbia’s leadership now faces tough decisions, including a possible nationalization. /ru/prezident-serbii-vucic-dopustil-nacionalizaciu-docki-gazprom-nefti/a-63664058
Many government ministers and President Aleksandar Vucic opposed that step.
An extraordinary cabinet session on the issue, chaired by Vucic, is set for November 16.
In January 2025, the U.S. imposed sanctions on NIS—one of Russia’s last energy assets in Europe. Until then, NIS had avoided restrictions thanks to a series of waivers. But in early October, it failed to secure another U.S. sanctions waiver.
PJSC Gazprom Neft owns 44.9% of NIS, with another 11.3% held by Gazprom’s investment arm.
The Serbian government holds 29.9%. NIS supplies 80% of Serbia’s gasoline and diesel needs, and 90% or more of its jet fuel and heavy fuel oil.
