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The President of Serbia, Aleksandar Vucic, announced late Friday that the United States will impose sanctions "within a few days" on the Oil Industry of Serbia (NIS), because Russian companies enjoy the majority of its shares.
"Sanctions will also be imposed by the British, but that means everyone. This is probably one of the most difficult news ," Vucic said on Friday during a guest appearance on Informer television.
The main owner of NIS is the Russian company Gazprom Neft which owns 50 percent of the shares, then the state of Serbia with 29.87 percent of the shares, while the Gazprom company has 6.15 percent of the shares.
Vucic said these are "perhaps the most severe sanctions" and that the US decision will take effect on January 1, 2025.
"We have to wait for the final act. We have talks with Russia. Let's see if (ownership) can be reduced below 50 percent, so we can buy a part ," said Vucic.
Gazprom Neft is the third largest oil producer in Russia. Serbia is largely dependent on Russia in the energy sector, and Gazprom is Serbia's sole gas supplier and the majority owner of both gas pipelines that deliver gas from Russia to households and industry in Serbia.
Asked if the sanctions decision is any kind of pressure on Serbia to impose sanctions against Russia in connection with its invasion of Ukraine, Vucic said he could not answer that.
" I think it's part of a broader geopolitical pressure on Russia ," he said.
Serbia is the only country in the Western Balkans that has not joined Western sanctions to punish Russia for its war in Ukraine, and continues to cultivate ties with officials in Moscow.
Vucic emphasized that this decision creates "some new problems" with Russia, adding that after three years "it would not be realistic" for him to take a position on the imposition of sanctions against Moscow./ REL
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