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US sanctions against NIS, Putin comes to Belgrade's aid: Moscow has ideas on how to solve the problem
2025-12-19 17:14:03 / BOTA
Russian President Vladimir Putin said on Friday that Moscow "has ideas" on how to resolve the issue of the Serbian Oil Industry (NIS), which is under US sanctions, and that talks with Serbia are continuing.
"We have ideas about how, in what way and in what direction we can move forward together. Such a dialogue is underway with our friends in Serbia. We hope that we will find the right solution," Putin said, Russian news agency TASS reported.
The United States imposed sanctions against NIS on October 9, as Russia owns a majority stake in it.
The US insists that Russian companies, which own 56.2 percent of the shares in Serbian industry, leave NIS.
Putin said at his annual end-of-year conference that Russia assumes that the “friendly leadership of Serbia” will fulfill its obligations to the NIS.
"We have intergovernmental agreements with Serbia regarding the adoption of any restrictions regarding this trading entity. And, of course, we assume that the friendly leadership of Serbia will remember this and fulfill its obligations. Otherwise, the question arises: how can we invest money in the country's economy and where are the security guarantees if even intergovernmental agreements do not work," Putin said.
The US sanctions began to be implemented in October after previously being postponed several times.
Lacking a license, the NIS oil refinery in Pancevo was closed in early December, while Belgrade claims that talks with Moscow about a change of ownership are ongoing. Serbia has given Russia until January 15th.
Serbian President Aleksandar Vučić stressed on December 16 that the Russian side and a large company are negotiating for NIS, but that official Belgrade is not participating in this.
"I think negotiations are nearing completion between the Russian side and a large company," Vucic said at the time, without specifying which company was involved.
Neither the American nor the Russian side has published information about the progress of the talks, and citizens have been informed about this situation by Serbian officials, mainly by Vučić.
The aim of the sanctions targeting the Russian energy sector, which have hit Serbia's largest oil company, is to prevent Russia from further financing the invasion of Ukraine./ REL
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