The United States has set as a condition that the Serbian Oil Industry (NIS) must have no ownership ties to Russia in order to prevent the flow of funds to Moscow.
James O’Brien, the U.S. Assistant Secretary of State for Europe and Eurasia, stated that the U.S. demands “zero” Russian ownership in NIS, stressing that this stance has been applied to other Russian companies in countries like the Netherlands, Switzerland, and Turkey.
Sanctions and Future Negotiations
The Serbian Oil Industry has been sanctioned by the U.S. Treasury Department due to its ties to the Russian company Gazprom Neft, which has held a majority stake in NIS since 2008. These sanctions are part of global pressure on Russia for its invasion of Ukraine.
Richard Verma, the U.S. Deputy Secretary of State for Management and Resources, emphasized during a visit to Belgrade that Serbia would not face economic consequences if Russian ownership in NIS were removed.
Serbia’s Stance and Talks with Russia
Serbian President Aleksandar Vučić stated that Serbia expects to have discussions with Russia to resolve the issue of ownership. Vučić said Serbia needs to understand the exact conditions required before negotiating with the Russian side.
Sanctions and Limitations on Gazprom Neft
Gazprom Neft, a Russian state-owned company, has been sanctioned by the U.S. and EU, but its parent company Gazprom is not subject to the embargoes imposed by Western countries.
