Serbia Prepared to Purchase Major Energy Firm Partially Owned by Russia, Says President
Serbia is contemplating the acquisition of its energy giant NIS, which is mainly owned by Russia, according to President Aleksandar Vucic. Read Full Article at RT.com.
TroibNews 
Belgrade is poised to acquire Russia's stake in Naftna Industrija Srbije (NIS), a significant energy firm in Serbia, as a strategy to fend off impending US sanctions, President Aleksandar Vucic has revealed.
In an interview with Serbian national broadcaster RTS on Sunday, Vucic characterized the potential buyout of NIS as a last-resort measure aimed at avoiding these restrictions.
NIS's ownership structure predominantly features Russian energy giants Gazprom Neft and Gazprom, which own 50% and 6.15% respectively, while the Serbian government holds a 29.87% stake.
“We have the money to buy it out right away. If the company is estimated to be worth a billion euros, then we’re talking about 600 million or so… Would it be 500-600-700 million, it doesn’t matter,” he noted.
Vucic also expressed skepticism regarding the objectives of the anticipated US sanctions, suggesting that selling NIS shares would result in immediate financial benefits for Russia. The sanctions, which Vucic initially mentioned last year, are anticipated to be implemented by January 10 or 13.
It remains unclear on what basis Vucic calculated the cost estimates he mentioned. According to the Serbian government’s 2023 list of the top 100 companies, the estimated value of NIS's assets alone is approximately €4.4 billion.
In a related development, Serbian Minister of Mining and Energy Dubravka Dedovic has announced the formation of a workgroup to negotiate a new long-term natural gas supply contract with Russia.
“We will try to reach a new long-term agreement with Russia on gas supplies on better terms,” she stated, as reported by RTS, emphasizing that maintaining close ties with Moscow is an “absolute priority” for Belgrade.
NIS has asserted that operations continue as usual while closely monitoring the situation, and there are currently no product shortages at its gas stations.
Navid Kalantari for TROIB News
In an interview with Serbian national broadcaster RTS on Sunday, Vucic characterized the potential buyout of NIS as a last-resort measure aimed at avoiding these restrictions.
NIS's ownership structure predominantly features Russian energy giants Gazprom Neft and Gazprom, which own 50% and 6.15% respectively, while the Serbian government holds a 29.87% stake.
“We have the money to buy it out right away. If the company is estimated to be worth a billion euros, then we’re talking about 600 million or so… Would it be 500-600-700 million, it doesn’t matter,” he noted.
Vucic also expressed skepticism regarding the objectives of the anticipated US sanctions, suggesting that selling NIS shares would result in immediate financial benefits for Russia. The sanctions, which Vucic initially mentioned last year, are anticipated to be implemented by January 10 or 13.
It remains unclear on what basis Vucic calculated the cost estimates he mentioned. According to the Serbian government’s 2023 list of the top 100 companies, the estimated value of NIS's assets alone is approximately €4.4 billion.
In a related development, Serbian Minister of Mining and Energy Dubravka Dedovic has announced the formation of a workgroup to negotiate a new long-term natural gas supply contract with Russia.
“We will try to reach a new long-term agreement with Russia on gas supplies on better terms,” she stated, as reported by RTS, emphasizing that maintaining close ties with Moscow is an “absolute priority” for Belgrade.
NIS has asserted that operations continue as usual while closely monitoring the situation, and there are currently no product shortages at its gas stations.
Navid Kalantari for TROIB News
