Serbian President Aleksandar Vucic said on Dec. 13 that the United States is planning to impose sanctions in the coming days on the country’s sole gas supplier, citing its Russian ownership.
The Petroleum Industry of Serbia (known by its local acronym NIS), primarily owned by Russia’s Gazprom Neft and its parent company Gazprom, is Serbia’s exclusive gas supplier and controls the main pipelines delivering gas from Russia to Serbian households and industries.
"The British are also joining the sanctions, which then means everyone. This is probably one of the hardest pieces of news," Vucic said during an interview on a government-linked private television station, according to AFP.
Neither the United States nor the United Kingdom has commented on the reported sanctions. Serbia, an EU candidate country, has maintained close ties with Moscow and refused to impose sanctions against Russia since the invasion of Ukraine.
"I think this is part of broader geopolitical pressure on Russia," Vucic added, warning that the move would significantly impact Serbia, which relies heavily on Russian gas. He noted that Serbia is negotiating a new gas arrangement with Russia, as the current deal expires in March 2025.
Vucic suggested that reducing Russian ownership of NIS to below 50 percent might be a solution, allowing Serbia to purchase a larger stake. He added that the sanctions, if implemented, are expected to take effect from Jan. 1.
According to NIS's website, Gazprom Neft owns 50 percent of the company, Gazprom holds 6.15 percent, and the Republic of Serbia owns 29.9 percent, with the remaining shares distributed among citizens, employees, and other minority shareholders.
Dominic Culverwell
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