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Russian energy giant Gazprom has started talks with Hungarian company MOL about a possible sale of its majority stake in NIS, Serbia's only oil refinery. The news was announced on Tuesday by Serbian President Aleksandar Vučić.
According to Vučić, Gazprom representatives are conducting negotiations with several parties, including the Hungarian MOL, while Belgrade does not oppose such an agreement.
" The Hungarians are our friends and we have nothing against this ," Vučić told reporters, adding that the process should be completed as soon as possible, ideally by January 15.
NIS was included in the broad package of sanctions announced by the United States on the Russian oil sector in January, due to the war in Ukraine. Although the implementation of the sanctions on the Serbian company was postponed several times, they finally came into effect on October 8, causing direct consequences for its operation.
As a result of the sanctions, banks have stopped processing NIS payments, while Croatian pipeline operator JANAF has cut off crude oil supplies to the refinery.
Currently, Gazprom owns 11.3 percent of NIS shares, while its sanctioned subsidiary Gazprom Neft controls 44.9 percent. The Serbian government has 29.9 percent of the shares, while the remainder belongs to small shareholders and employees.
At the same time, Vučić confirmed that the gas supply agreement between Serbia and Russia will be extended for another three months, emphasizing that Serbia remains one of the few remaining buyers of Russian natural gas in Europe.
Serbia, which is aiming for membership in the European Union, continues to face pressure from Western countries to harmonize with EU sanctions against Russia, but has so far taken no concrete steps in this direction.
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