Serbian President Aleksandar Vučić has announced impending US sanctions against NIS, Serbia’s primary oil and gas company, citing its Russian ownership as the reason.
According to Vučić, in an interview with Serbian broadcaster Informer TV, the US will impose sanctions on NIS within days due to its Russian ownership. However, he noted that Belgrade has yet to receive official notification from Washington detailing the sanctions.
NIS, a major energy player in the Western Balkans, has significant Russian ownership through Gazprom. While Gazprom Neft, involved in NIS’s 2008 privatization, decreased its stake to 50% in 2022, Gazprom retains a 6.15% share.
Vučić anticipates the UK will also impose sanctions, stating this signifies a broad geopolitical pressure campaign against Russia. He views the sanctions as part of a wider effort to pressure Russia.
Following Gazprom Neft’s stake reduction in 2022, Vučić indicated that Serbia might be compelled to buy out Gazprom Neft’s remaining shares or facilitate their sale to a third party to mitigate the impact of anti-Russia sanctions.
Vučić and his government have repeatedly criticized what they see as Western hypocrisy and double standards, particularly regarding the West’s stance on Ukraine’s borders versus its demand that Serbia recognize Kosovo’s independence under NATO-backed Albanian leadership.
Serbia aims for EU membership, but the EU conditions this on Serbia sanctioning Russia and recognizing Kosovo – demands Vučić has firmly rejected.