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Serbia not prepared to seize foreign property in NIS case — Vucic

The Serbian president stressed that the state fulfilled all its obligations to ensure energy stability

BELGRADE, October 9. /TASS/. Belgrade is not ready to resort to methods that involve nationalization or "seizing someone else's capital," Serbian President Aleksandar Vucic said commenting on the situation with NIS (Neftna Industrija Srbije), which has been subject to US sanctions.

"As a country founded on the rule of law and that doesn’t take pride in appropriating someone else's property, we cannot happily agree to models based on the seizure of someone else's capital or property. We have held and will continue to hold talks with our American partners, and this morning I also spoke with the Russian ambassador - we await Moscow's further reaction," Vucic wrote on his Instagram page (banned in Russia, owned by the Meta corporation, which is designated as extremist in Russia).

He stressed that the state has fulfilled all its obligations to ensure energy stability.

"I am grateful to the citizens of Serbia for clearly understanding the state's responsibility, because we have provided everything that needed to be provided. Our reserves are full, all storage facilities are over capacity. Despite this, there are scores of challenges we face," Vucic said.

The President pointed out that the consequences of the sanctions against NIS will affect the entire country, not just individuals.

"The most important thing is for Serbian citizens to understand that this isn't about any specific person or government official. This is something that will affect every citizen of our country. Therefore, we must be united and seek the best possible solutions," he noted.

In early January 2025, the US Department of the Treasury introduced sanctions against Russian oil producer Gazprom Neft, its CEO Alexander Dyukov, and against Serbian NIS. The US has repeatedly postponed sanctions against the company since then. Restrictions came into force on October 9.

NIS is one of the largest vertically integrated energy systems in Southeastern Europe. Its majority shareholders are Gazprom Neft (44.85% of shares), Gazprom (11.3%), and Serbia (29.87%).

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