Energy standoff: US tells Serbia to remove Russian ownership from NIS entirely; Belgrade warns of ‘historic’ decisions ahead
NIS — the Petroleum Industry of Serbia — has been under US sanctions since 2022, imposed as part of Washington’s crackdown on Russia’s energy sector following the invasion of Ukraine, AFP reported.
The measures have dealt a severe blow to Serbia, leaving the country perilously close to a winter energy crisis, with its only refinery at risk of shutting down.Handanovic said Belgrade had asked the Trump administration to lift sanctions in exchange for a management restructuring, but US officials insisted on full Russian divestment.
“For the first time, the US administration has clearly and unequivocally said it wants a complete change of Russian shareholders,” she told reporters.Washington has given Serbia until February 13 to negotiate a solution.NIS is 45% owned by Gazprom Neft, already sanctioned by Washington.
Gazprom transferred its additional 11.3% stake to another Russian entity, Intelligence, in September.
The Serbian state holds nearly 30%, with the remainder dispersed among minority shareholders.Despite several postponements, the US Treasury began enforcing sanctions on NIS on October 9, intensifying pressure on Belgrade.The Serbian government is now examining whether it may need to take control of NIS to keep the energy system from collapsing.
A special cabinet meeting is scheduled for Sunday.Handanovic acknowledged internal resistance, saying “I know President (Aleksandar) Vucic is against nationalisation, as are many of us in the government,” she said.
“We will not let our country be put in danger, but we may face some of the most difficult decisions in our history in the coming days.”She urged Moscow to recognise the seriousness of the moment.
“I hope our Russian friends will understand the gravity of the situation and help us overcome it,” she said.Serbia, which relies heavily on Russian natural gas, remains one of the few European nations that has not imposed sanctions on Moscow since the Ukraine war began.
