In response to US sanctions on the Serbian oil company NIS, Russia has reportedly agreed to sell approximately 6% of its stake in the company to Serbia, reducing its ownership below 50%. This decision comes as part of Russia’s efforts to comply with international pressure while still maintaining a significant stake in the company. Russian oil giant GazpromNeft currently holds 50% of NIS, with its parent company Gazprom owning an additional 6.15%. The Serbian government holds 29.87%, and the rest is owned by minority shareholders.
The US Treasury imposed sanctions on NIS on January 10, targeting GazpromNeft’s control over the company as part of broader restrictions on Russia’s energy sector. Following the sanctions, Serbian President Aleksandar Vucic stated that the US is pushing for Russia to completely divest from NIS. In response to these sanctions, NIS is planning early salary payments for February, as banks prepare to halt the company’s international transactions on February 28 to comply with the US restrictions.
The Serbian government and NIS are exploring several potential solutions to mitigate the impact of these sanctions. One option being discussed is for Hungarian oil group MOL to purchase oil on the global market and resell it to NIS. Another possibility is the creation of either a state-run agency or a private company to handle oil purchases on behalf of NIS.
