Serbian President Says 'Not Much Good News' Regarding US Sanctions
Aleksandar Vucic has committed to safeguarding the nation’s energy security after discussions with a senior US energy official regarding upcoming restrictions. Read Full Article at RT.com.
TroibNews 
Serbian President Aleksandar Vucic has pledged to safeguard Serbia’s energy security amidst anticipated challenges connected to potential US sanctions against Naftna Industrija Srbije (NIS), a significant energy firm that contains ownership interests from Russian energy powerhouse Gazprom. Following discussions with US Under Secretary for Economic Growth, Energy and the Environment, Jose Fernandez, Vucic candidly stated that he had “much good news” to share.
NIS is primarily held by Russian entities, with Gazprom Neft owning 50% and Gazprom having a 6.15% stake, while the Serbian government retains a 29.87% share.
In December, Vucic indicated that the US was considering sanctions on NIS due to its Russian affiliations, with the possibility of these measures being enacted this month. He expressed intentions to engage in conversations with both US and Russian officials to secure Serbia’s energy stability.
The Serbian president had previously noted that sanctions on NIS could hinder Serbia’s oil supply, especially through a pipeline from Croatia, which is vital for the nation's energy requirements.
On Thursday, Vucic shared on Instagram that he had engaged in “an open, honest and difficult conversation” with Fernandez. He stated, “I will be able to reveal the full details within a few days. Certainly, I don’t have too much good news for the citizens of Serbia, but Serbia will preserve its stability and energy security.”
Two weeks ago, Vucic mentioned that he had a telephone conversation with Russian Foreign Minister Sergey Lavrov, during which they agreed to arrange a meeting between experts from both nations.
One potential approach could involve modifying the company's ownership structure to lower Russian stakes to under 50%, he noted.
Serbian Deputy Prime Minister Aleksandar Vulin recently claimed that the US aims to enforce sanctions against NIS in an effort to influence Serbia to impose restrictions against Russia.
These suggested sanctions on NIS are part of broader geopolitical pressures on Russia in light of the ongoing Ukraine conflict. Since the escalation of the conflict in 2022, numerous Russian companies have faced Western restrictions.
Serbia has maintained a neutral position regarding the conflict and continues to uphold strong economic relations with Moscow. Despite pressure from the US and EU, Belgrade has consistently refused to adopt sanctions against Russia.
Aarav Patel contributed to this report for TROIB News
NIS is primarily held by Russian entities, with Gazprom Neft owning 50% and Gazprom having a 6.15% stake, while the Serbian government retains a 29.87% share.
In December, Vucic indicated that the US was considering sanctions on NIS due to its Russian affiliations, with the possibility of these measures being enacted this month. He expressed intentions to engage in conversations with both US and Russian officials to secure Serbia’s energy stability.
The Serbian president had previously noted that sanctions on NIS could hinder Serbia’s oil supply, especially through a pipeline from Croatia, which is vital for the nation's energy requirements.
On Thursday, Vucic shared on Instagram that he had engaged in “an open, honest and difficult conversation” with Fernandez. He stated, “I will be able to reveal the full details within a few days. Certainly, I don’t have too much good news for the citizens of Serbia, but Serbia will preserve its stability and energy security.”
Two weeks ago, Vucic mentioned that he had a telephone conversation with Russian Foreign Minister Sergey Lavrov, during which they agreed to arrange a meeting between experts from both nations.
One potential approach could involve modifying the company's ownership structure to lower Russian stakes to under 50%, he noted.
Serbian Deputy Prime Minister Aleksandar Vulin recently claimed that the US aims to enforce sanctions against NIS in an effort to influence Serbia to impose restrictions against Russia.
These suggested sanctions on NIS are part of broader geopolitical pressures on Russia in light of the ongoing Ukraine conflict. Since the escalation of the conflict in 2022, numerous Russian companies have faced Western restrictions.
Serbia has maintained a neutral position regarding the conflict and continues to uphold strong economic relations with Moscow. Despite pressure from the US and EU, Belgrade has consistently refused to adopt sanctions against Russia.
Aarav Patel contributed to this report for TROIB News
