Russian Oil Interests Face Sanctions Pressure in Serbia

Russia is in talks with Serbia about the future ownership of the Serbian oil company NIS, following new U.S. sanctions against Russia's oil industry. Russian companies currently hold a majority stake in NIS, which is now under pressure to divest due to the sanctions.

In a recent development, Russian Foreign Minister Sergei Lavrov revealed that Moscow is engaging with Serbia concerning the future ownership of the Serbian oil company, NIS. This comes amid geopolitical strains and economic maneuvers affecting global oil interests.

Serbian President Aleksandar Vucic announced that the new U.S. sanctions targeting Russia's oil sector have left Gazprom Neft, a major stakeholder in NIS, with a 45-day ultimatum to divest its shares. This move could significantly alter the ownership landscape of one of Serbia's key energy assets.

The current ownership structure sees Gazprom Neft holding a 50% stake, Gazprom with 6.15%, and the Serbian government owning 29.87%. Small stakeholders hold the remaining percentage. The looming divestment deadline raises questions about the future control and management of NIS amidst intensified international sanctions.

(With inputs from agencies.)