Serbia preparing to nationalize NIS, expects understanding from Russia
Serbian Minister of Mining and Energy Dubravka Dedovic-Handanovic expressed hope that the Russian side will take into account the scale of pressure Belgrade is facing
BELGRADE, November 15. /TASS/. Serbia is considering the option of nationalizing the oil and gas company NIS (Naftna Industrija Srbije) amid US demands for a complete withdrawal of Russian shareholders, Serbian Minister of Mining and Energy Dubravka Dedovic-Handanovic told reporters, emphasizing that Belgrade expects understanding and support from its Russian partners under the current pressure.
The minister noted that the country will have to make extremely difficult decisions in the near future. "As energy minister, I believe we are faced with tough decisions — specifically, whether we should proceed with a compulsory acquisition of the company, after which compensation for damages would need to be determined and paid," she stated.
Dedovic-Handanovic recalled that the Serbian leadership has always opposed nationalization, but the situation is becoming critical.
She expressed hope that the Russian side will take into account the scale of pressure Belgrade is facing. "I hope that our Russian friends understand the gravity of the situation and will help us overcome it," the minister concluded.
The US Office of Foreign Assets Control (OFAC) had earlier notified Belgrade of its demand for the complete removal of Russian shareholders from NIS. The United States stated in writing that it would not accept any decisions on changes to the company’s management without a change of ownership, and it also ruled out the possibility of retaining Russian participation through Gazprom-affiliated entities or other Russian state-sector structures.