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United States (US) sanctions against the Oil Industry of Serbia (NIS) are aimed at Russia, not Serbia, US Under Secretary of State for Resource Management Richard R. Verma said on Saturday in Belgrade.
"There will be no economic consequences for Serbia if Russian ownership of NIS is removed. Russia is not investing in Serbia's future, because the profits it makes from NIS are not invested in Serbia. Changing the ownership structure will contribute to more peace in the region ," Verma said at a joint conference with Serbian President Aleksandar Vučić.
He emphasized that NIS is one of the 2,000 Russian-owned companies against which the US has imposed sanctions.
"The goal is to remove Russian ownership from these companies. We will help Serbia diversify its energy sources and be independent in this regard ," Verma added.
Vucic stated that the fact that the sanctions against NIS are not aimed at Serbia is "weak consolation".
" According to the first calculations, about 30 countries have been affected by these sanctions in different ways - or entities from those countries - but everywhere it is about Russian assets, capital and interests," said Vucic at the conference.
He stated that Serbia needs a little more time to clarify the uncertainties regarding the recent US sanctions against Russia, which also affect the NIS, and therefore the talks with Moscow will be postponed.
" We need to know exactly what the conditions are, and then we will be able to talk to the Russian side about everything. There will be oil, gasoline, all derivatives, but we will not confiscate anyone's property; we will pay the price" , said Vucic.
Serbia's oil industry was sanctioned by the United States Treasury Department on January 10, as it is owned by the Russian company Gazprom Nefta.
On Friday, Vucic said that it is a question of "heavy and serious sanctions" and that "the complete removal of Russia from the ownership of NIS" is required.
NIS was included in the list of six companies that "are owned or controlled, act or are suspected of acting for or on behalf of, directly or indirectly, Gazprom Nefta."
NIS is the only company in Serbia that deals with the exploration, production and refining of oil and natural gas production.
The Russian state company, Gazprom Neft, has held a majority stake in NIS since 2008, while from 2022, its parent company, Gazprom, also holds shares.
In total, they have 56.15 percent of the shares, while 29.87 percent are owned by Serbia.
The remainder belongs to citizens, employees, former employees and other smaller shareholders.
Gazprom Neft is under European and American sanctions, due to the Russian invasion of Ukraine, but the world's largest gas producer, Gazprom, is not subject to the embargo of Western countries./ REL
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