Serbian leader declares ‘not much good news’ on US sanctions
(MENAFN) Serbian President Aleksandar Vucic has expressed concerns over the potential imposition of US sanctions on Naftna Industrija Srbije (NIS), a major energy company co-owned by Russia's Gazprom. After meeting with US Under Secretary for Economic Growth, Energy and the Environment, Jose Fernandez, Vucic admitted he didn’t have “much good news” to share regarding the issue.
NIS is largely owned by Gazprom Neft (50%) and Gazprom (6.15%), with the Serbian government holding a 29.87% stake. Vucic had previously disclosed that the US was planning to sanction NIS because of its Russian ties, with sanctions expected to take effect soon. The sanctions could affect Serbia’s oil supply, particularly through a crucial pipeline from Croatia.
Vucic stated that he had a “difficult” conversation with Fernandez and would share more details in the coming days. While he did not have positive updates, he assured citizens that Serbia would maintain its stability and energy security. Vucic also hinted that a possible solution might involve altering the ownership structure of NIS to reduce Russian control.
The potential sanctions are part of a broader geopolitical push against Russia, particularly following the escalation of the Ukraine conflict. Despite US and EU pressure, Serbia has remained neutral, maintaining strong economic ties with Russia and resisting sanctions.
MENAFN07012025000045015687ID1109062961
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.