Serbian President Aleksandar Vučić announced that the Government has unanimously endorsed his proposal to give the Russian side 50 days to identify a new buyer for NIS. If no agreement is reached within that timeframe, Serbia plans to intervene, appoint its own management, and then offer Russia the highest price it can reasonably pay for the company.
Vučić said that some ministers initially pushed for an immediate nationalization, but he advocated for a different approach, which the cabinet ultimately supported. He noted that Serbia is prepared to manage any consequences during the interim period, including the possibility that the Pancevo refinery may be unable to operate, stressing that the state will still ensure sufficient fuel supplies for the domestic market.
After the 50-day window closes, if no sale contract is in place, Serbia will move to install its own management at NIS, though this would not constitute immediate nationalization. Only after temporary leadership is established would the Government present its formal purchase offer. The President emphasized that the current situation cannot continue indefinitely and that three months should be enough to complete negotiations with potential investors.
Vučić confirmed that Serbia has communicated its position to the US Treasury’s Office of Foreign Assets Control (OFAC), along with a request for an extension of NIS’s operating license. He added that Serbia must also provide clarity to partners from the UAE, Hungary, and other countries engaged in discussions about the company’s future. He reiterated that Serbia is not the owner of NIS and therefore cannot unilaterally decide on its sale.
Vučić questioned what additional steps the international community expects Serbia to take, given that it cannot force a sale while the current owner wishes to retain control despite sanctions.
