site.btaThree Potential Buyers of Russia's Majority Stake in Serbian Oil Company NIS, President Vucic Says

Serbia's President Aleksandar Vucic has announced that there are three potential buyers of Russia’s majority stake in Serbian oil company NIS, national broadcaster RTS reported.

"I am aware of three partners with whom they [the Russians] are negotiating. Whether they will reach an agreement or not, we will see. I hope they do, because the sooner this is resolved, the better," Vucic said.

He added that discussions with the United States regarding a license for NIS’s operations will take place within the next two to three days.

In early January, the United States announced that, due to the war in Ukraine and the associated "secondary risk," it would impose sanctions on NIS, which is majority-owned by Russia’s oil giant Gazprom. On January 10, Washington demanded the full withdrawal of Russian capital from the company and subsequently postponed the sanctions eight times before they finally took effect on October 9.

NIS operates Serbia’s only oil refinery, located in Pancevo near Belgrade. The refinery has an annual capacity of 4.8 million tons, covering most of Serbia’s oil needs.

The Serbian State holds 29.9% of NIS shares, while Gazprom Neft remains the main owner with 44.9%. In late September, St Petersburg–based Intelligence, a Gazprom affiliate, acquired parent company Gazprom's stake of 11.3%.