Serbian President Aleksandar Vučić announced that Russian shareholders are currently negotiating with three potential buyers for their stake in oil company NIS, and that the talks are approaching a conclusion. He added that Serbia will soon begin discussions with U.S. officials to obtain a special license that would enable the Pančevo refinery to continue operating until the ownership transfer is complete.
Vučić stressed that, despite 41 days of U.S. sanctions, Serbia has faced no disruptions in supply. Crude oil continues to arrive through the JANAF pipeline, the refinery remains fully operational, and fuel availability at gas stations has not been affected. He dismissed allegations that Serbia is financing the purchase of NIS on behalf of a new owner, calling such claims baseless. Any buyer, he said, will use its own capital, while Russia alone will decide to whom it will sell. He also explained that Serbia cannot exercise its contractual right of first refusal because the transaction is taking place under sanctions pressure rather than through a voluntary sale.
Although he noted that Serbia would be financially capable of buying the Russian-held shares, Vučić emphasized that Moscow has chosen to negotiate with other interested parties. He reminded the public that Russia controls 56 % of NIS, the result of the 2008 privatization—a move he criticized, arguing that Serbia’s oil reserves at the time were undeveloped but highly promising, and have since become a major driver of the company’s success.
Vučić rejected accusations that the Government has been passive in recent months, saying he has faced strong pressure from multiple directions while continually seeking a solution. He stated that, despite the intensity of these pressures, he has met with Russian President Vladimir Putin only twice, while holding numerous discussions with representatives of the U.S. administration in an effort to ensure uninterrupted operations at NIS during the transition period.
