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U.S. to Sanction Serbia's NIS Oil Company, 50% Owned by Gazprom Neft, Over Russian Ties

Dec 14, 2024, 07:40 AM

The United States is preparing to impose sanctions on Serbia's Petroleum Industry, known as NIS, in the coming days due to its significant Russian ownership. Serbian President Aleksandar Vučić announced that NIS is 50% owned by Gazprom Neft and 6.15% by Gazprom, which has prompted U.S. action. Vučić indicated he would seek discussions with American officials regarding the sanctions. The move reflects ongoing tensions in U.S.-Serbia relations, with calls for Serbia to diversify its geopolitical partnerships amidst these developments.