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Will Serbia buy the Russian shares of the Serbian oil industry?
Vucic plans to buy Russian NIS shares to avoid sanctions imposed by the Biden administration, two weeks before he leaves the White House.
The United States and Great Britain have planned sanctions against the Serbian Oil Industry (NIS) because of its Russian ownership.
Since 2008, NIS is majority owned by the Russian state company Gazprom Neft and its umbrella company Gazprom. The US sanctions are part of a broader effort to punish Russian companies that finance aggression against Ukraine.
As Serbian media write, Vucic does not seem too worried, until after January 20, 2025, when he has announced talks with President Putin, and is trying to buy time.
However, talks may not be necessary, as the new administration will reverse course on these sanctions.
Serbia cannot remain without oil, so it will have to take care of its citizens, the Serbian President has declared, saying that he expects to receive a document around January 15 regarding the US sanctions against the Serbian Oil Industry (NIS). He also emphasized that Serbia has sufficient reserves to cope with the situation. Vucic also mentioned that Serbia has an agreement with Croatia on the import of oil, but this could be affected by the sanctions.
In an effort to avoid sanctions until after the changes in the White House, Vucic has stated that Serbia has funds to buy the shares of NIS from the Russians and is waiting for an answer from the US on this matter. Here lies the trap that Vučić has prepared, questioning the reasonableness of the sanctions, especially making it clear that buying shares is not a solution and that blocking Russian assets on Serbian land is not an option, nor is Serbia ready to align with the West, even more now when, according to them, a change in the American course is expected.
The purchase of shares can be understood as a violation of sanctions, since this money would go to finance the war in Ukraine, he further speculates. If we pay the Russians, the money will end up directly on the battlefield, and in that case he does not understand the meaning of the sanctions, argues Vucic./ Pamphlet
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