Russian Foreign Minister Sergei Lavrov stated yesterday in Moscow that the Oil Industry of Serbia (NIS) cannot under any circumstances be subject to nationalization, but that a solution is being sought in cooperation with the Serbian authorities for the situation that arose after the introduction of US sanctions on the company, whose majority owner is Russia's Gazprom.
"The agreement on the establishment of the company states that NIS is not subject to nationalization under any circumstances," Lavrov said at the annual press conference.
Serbian President Aleksandar Vučić said on Friday that, following new US sanctions against the Russian oil sector, Gazprom Neft will have 45 days to withdraw from its ownership in the Serbian Oil Industry.

Vučić held a meeting with the Russian Ambassador to Serbia, Alexander Botsan-Kharchenko, yesterday to discuss “the consequences that US sanctions against Russian companies will have on our NIS,” he posted on his Instagram profile. “In accordance with the intergovernmental agreement between Serbia and Russia, I have asked our Russian friends to start consultations and hold numerous meetings on the functioning of NIS in the future,” Vučić said.
According to Russian media, Lavrov said that Russia is in constant contact with Serbia and has requested urgent consultations regarding NIS. “We are in contact with our Serbian friends, we have requested urgent consultations. We hope to receive an answer as soon as possible,” Lavrov said. He assessed that the situation, also from a “legal point of view, requires bold decisions.”
"When they tell you: You have an agreement with someone that does not concern us, but which concerns our desire to punish your partner, but sorry, it will also affect you directly and it will be very painful... the decision is up to the Serbian leadership," he added.
Regarding the US demand that Serbia not retain any Russian capital in NIS, Lavrov said that it was "a rather impudent act, a trademark of the outgoing administration", adding that the US and the EU were twisting Serbia's hands by asking it to betray Russia. He assessed that the administration of current US President Joe Biden wants to harm both Serbia and the future administration of Donald Trump with new sanctions on Russia in the energy sector. Lavrov also said that Moscow is interested in ensuring that relations between Russia and Serbia are "based exclusively on the interests of peoples and states".
NIS is majority-owned by Gazprom Neft, which has a 50% stake, and its parent company Gazprom, which has a 6,15% stake. The Serbian government owns 29,87% of the shares, while the remaining share belongs to small shareholders.
Analysts say Serbia could either buy out Russia's 56,15% stake in NIS or try to sell it to third parties, but that will depend on an agreement with Russia. NIS shares, which Russian companies bought for $400 million in 2008, could now be worth almost €600 million ($615,48 million) on the market.
Bonus video:
