The U.S. Department of State responded to Serbian President Aleksandar Vučić’s remarks about the U.S. sanctions imposed on Serbia’s Oil Industry (NIS). Vučić had described these sanctions as “severe and serious,” following the U.S. Treasury’s decision to sanction the Russian companies Gazprom Neft and Surgutneftegas, which are linked to NIS, reports RFE.
The U.S. Treasury’s sanctions against NIS were enforced due to the so-called “secondary risk,” which refers to its ties with the Russian Gazprom, the state-owned energy giant.
In a press conference on January 10, Vučić stated that the sanctions call for “the complete removal of Russia from NIS ownership,” adding that the U.S. would not accept Russian ownership of 49 percent or less in the company.
The U.S. Department of State emphasized its commitment to preventing Russian revenues from supporting Moscow’s ongoing military aggression against Ukraine. The U.S. also reiterated its efforts to ensure energy security and diversity of supplies, working with global allies.
NIS is Serbia’s only company involved in the exploration, production, and processing of oil and natural gas. Gazprom Neft has owned a stake in NIS since 2008, with the company’s parent Gazprom holding a 6.15 percent share. Despite EU and U.S. sanctions on Gazprom Neft since 2014 due to Russia’s annexation of Crimea, NIS continues to operate, owning over 400 fuel stations in Serbia and the surrounding region.
The Department of State reaffirmed that it will continue to work globally to ensure that Russia cannot exploit energy as a tool of pressure.
