The United States is preparing to impose sanctions on Serbia’s oil and gas company NIS due to its Russian ownership, announced Serbian President Aleksandar Vučić. The sanctions are part of broader measures against entities linked to Russian interests.
Russian Ownership Triggers Sanctions
NIS, Serbia’s main oil and gas company, is majority-owned by Gazprom and its subsidiary Gazprom Neft. Gazprom holds 6.15% of NIS, while Gazprom Neft controls 50%. The remaining shares are owned by the Serbian government and smaller investors.
In an interview with Informer TV, Vučić stated, “We have confirmation that in the next few days, the US will introduce sanctions against NIS because of Russian ownership.” He added that he expects the UK and the European Union to follow Washington’s lead and introduce their own sanctions.
Impact on Serbia’s Relations
Vučić acknowledged the challenges these sanctions will pose for Serbia’s relationship with Russia. “This opens us up to problems with our Russian friends — from politics to everything else,” he said in an interview with Al Jazeera’s Serbian service.
The US Treasury Department has yet to officially comment on the sanctions package, and Serbia has not received detailed information from Washington.
Serbia Balances Between Russia and the West
While Serbia has condemned Russia’s invasion of Ukraine in international bodies like the United Nations, it has refrained from imposing direct sanctions on Moscow. The potential sanctions on NIS place additional pressure on Serbia to reconsider its position.
Possible Reduction of Russian Ownership
In response to the looming sanctions, Vučić mentioned the possibility of restructuring NIS’s ownership. “We will have to look if there is a possibility to reduce Russian ownership below 50% and to talk with our Russian partners about it,” he stated.
This move could help Serbia avoid sanctions while maintaining diplomatic relations with both Russia and the West.