U.S. expects Serbia to push Gazprom out of NIS stake – Bloomberg

The United States expects Serbia to persuade Russia’s Gazprom to sell its stake in the oil and gas company NIS (Naftna Industrija Srbije) or to nationalize it, Bloomberg reported, citing U.S. officials.

Serbian President Aleksandar Vucic rejected “any unilateral action” against the Russian company, saying, “I am neither a communist nor a fascist,” according to the report.

NIS is the largest energy company in the Balkans, engaged in oil and gas exploration, production and refining. Gazprom Neft owns a 44.85% stake, Gazprom holds 11.3%, while Serbia controls 29.87%.

The presence of Russian ownership in NIS led to U.S. sanctions against the company, imposed in January under the Biden administration. Since then, Washington postponed enforcement six times before the restrictions took effect on October 9, the report said.

Vucic warned that sanctions on NIS could have “serious consequences” for Serbia. He said Washington had offered to delay them if Belgrade nationalized the company, but ruled out that step, though he previously allowed for a possible buyout of Russian shares for around €600 million.