Vucic said he expects big problems due to US sanctions against NIS

The Serbian authorities are expecting big problems in connection with the introduction of US sanctions against the Serbian oil and gas company Naftna Industrija Srbije (NIS), the country's President Aleksandar Vucic said on the air of the TV Pink television channel.

"We expect almost big problems connected with NIS, because the Russians and the Americans seem to be at odds on all positions. Tomorrow and the day after tomorrow we will have special meetings on this issue, but everything that I thought we could solve without big political drama by some agreement, mutual understanding on all sides, obviously we cannot," he said ( quoted by B92).

According to Vucic, there is no “good and easy solution” to the NIS situation. He noted that Serbia is “literally torn between two cars moving in opposite directions.” The president promised to deal with the problem in the coming days, and said that the authorities will do everything possible to solve it.

NIS is the largest energy company in the Balkans. It is engaged in exploration and production of hydrocarbons outside Serbia - in Romania and Bosnia and Herzegovina, as well as refining oil and natural gas. It owns an oil refinery in the city of Pancevo near Belgrade and a network of more than 400 petrol stations. The largest shareholders are Gazprom Neft and Gazprom (56.15%), as well as Serbia (29.87%).

On January 10, the United States imposed the “most significant” sanctions ever against Russia’s energy sector, including Gazprom Neft and NIS. Washington demanded that Belgrade reduce the Russian company’s stake in NIS to zero. As Vucic said, the deadline for the withdrawal of Russian capital is February 25, after which the sanctions will come into full effect.

The Serbian president spoke about the possibility of buying out the Russian share, but noted that the authorities would not take any measures without Moscow's consent. At the end of January, he announced plans to discuss the situation around NIS with Russian President Vladimir Putin. RUSSIA considers Western sanctions illegal and insists on their cancellation.

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