Russian Foreign Minister Sergei Lavrov stated that discussions regarding the future of Serbian oil company NIS are actively progressing. He criticized US sanctions policy, arguing that unilateral restrictions and the use of the dollar as leverage undermine the global framework the United States once championed.
Lavrov highlighted the bilateral agreement between Serbia and Russia, emphasizing that any transfer of ownership, including nationalization, requires consent from both sides. He suggested that several potential solutions could allow NIS to continue operating despite US restrictions, noting that Serbia’s energy authorities, economic institutions, and regional partners are responsible for exploring these options. He stressed that any resolution must be fair, as it could set a precedent affecting other countries.
NIS has been under US sanctions since 9 October, with Washington insisting that the company’s ownership structure exclude Russian participation. In early December, the company reported that its Pancevo refinery began a gradual shutdown due to crude oil shortages caused by the sanctions. Despite this, NIS continues to deliver petroleum products domestically, relying on previously accumulated reserves.
