US postpones sanctions against Serbia’s NIS, granting Belgrade 60-day reprieve

The United States has once again delayed the imposition of sanctions on Serbia’s leading energy company, Naftna Industrija Srbije (NIS), granting Belgrade a further extension of 60 days. The sanctions are now postponed until June 27.

Serbian President Aleksandar Vučić announced the development on Instagram, describing it as a positive outcome for the country, Caliber.Az reports via Russian media.

"Good news for the citizens of Serbia. Serbia has managed to secure a new postponement of sanctions against NIS, this time for two months — until June 27. We thank our American partners for understanding Serbia’s position," Vučić stated.

The move follows earlier remarks from Serbian Minister of Mining and Energy Dubravka Đedović-Handanović, who reiterated Belgrade’s stance against any forced seizure of the Russian stake in NIS, despite mounting pressure linked to US sanctions.

Speaking on K1 television, Đedović-Handanović emphasised that Serbia remains committed to a constructive approach, favouring dialogue over drastic measures.

"We have not reached that point, and we will not forcibly seize anyone's property. Serbia is a country that strives to attract foreign investment, and in this respect, it is a regional leader. If you forcibly take something from one investor, it sends a bad signal to all others. That is why we are engaged in active dialogue to reach a constructive solution. Our goal is for the citizens and economy of Serbia to feel no discomfort," she said.

The background to the current situation stems from US sanctions introduced earlier this year. On January 10, the US Treasury Department added the Russian company Gazprom Neft, its CEO Alexander Dyukov, and more than 20 affiliated entities, including NIS, to its sanctions list.

NIS is considered one of the largest vertically integrated energy systems in Southeastern Europe. Its activities encompass oil and gas exploration and production, the sale of petroleum products, electricity generation and trading, and petrochemical development projects. The company’s main operational facilities are located in Serbia, Bosnia and Herzegovina, Bulgaria, Romania, and Hungary.

The ownership structure of NIS includes major stakes held by Russian entities: Gazprom Neft owns 44.85% of shares, Gazprom holds 11.3%, while the Serbian government retains 29.87%.

By Tamilla Hasanova