Serbian president holds talks with US congressmen over sanctioned energy firm NIS

Serbian President Aleksandar Vučić has discussed the future of the local company NIS (“Naftna Industrija Srbije”), which was previously subject to U.S. sanctions due to its Russian owners, with members of the U.S. House of Representatives visiting Belgrade.

“With regard to energy, I emphasized that the operation of NIS and ensuring our country’s energy security are very important for Serbia, and I expressed confidence that the issue will be resolved soon,” Vučić wrote on Instagram following talks with Michael Turner (Republican from Ohio) and Donald Norcross (Democrat from New Jersey).

In January 2025, the U.S. Treasury Department added Gazprom Neft, the company’s CEO, Aleksandr Dyukov, and Serbian NIS to its sanctions list. After several delays, the restrictions came into effect on October 9. At the time, Vučić stressed that he did not hold Russia responsible and hoped for a joint resolution. He later noted that following the U.S. measures, NIS also effectively faced restrictions from the European Union.

NIS’s main production facilities are located in Serbia, Bosnia and Herzegovina, Bulgaria, Romania, and Hungary. The company’s majority shareholders are Gazprom Neft (44.85% of shares), Serbia (29.87%), and Intelligence JSC from Saint Petersburg, managed by Gazprom Capital (11.3%).

By Khagan Isayev