Serbia does not want to block sale of Gazprom stake in NIS

Serbia will not obstruct the planned sale of the Russian majority stake in the oil company NIS. This was stated by Energy Minister Dubravka Đedović Handanović on June 9, while negotiations between Gazprom and the Hungarian energy company MOL are entering the decisive phase under pressure from a deadline set by the USA. According to a statement from the Serbian government, the talks on the sale of the Russian shares were "progressing well". Most of the key issues had already been clarified, now the buyer and seller had to agree on the final terms. "Serbia is not and will not be an obstacle to the transaction," said Đedović Handanović. The US Treasury Department's Office of Foreign Assets Control (OFAC) has extended the deadline for the conclusion of negotiations to June 16. Until this date, NIS also has a provisional license to continue its business activities. Gazprom and Gazprom Neft, which together hold around 56% of the shares in NIS, have been under pressure to sell their stakes since the sanctions imposed by Washington in October 2025. The measures temporarily led to uncertainties surrounding the operation of the Pančevo refinery, which covers around 80% of Serbia's fuel requirements. This had a negative impact on the country's industrial production during the winter months. According to the minister, the parties have little time to finalize the negotiations. The final transaction also requires the approval of the US authorities. "There is not much time left, but all parties involved are trying to protect their respective interests," she explained. Despite the sanctions, Serbia has so far been able to guarantee the security of fuel supplies and the continuous operation of the refinery. At the same time, Belgrade is holding talks with the United States to find a long-term and mutually acceptable solution for the future of NIS, the minister added. In addition, Đedović Handanović explained that Serbia had invited US companies to express their interest in the planned Đerdap 3 pumped storage power plant. The project, which has been under discussion for years, could reach a capacity of 1,200 to 2,400 megawatts depending on the expansion stage. The project is part of the strategic energy partnership agreement that Serbia and the United States signed in March 2025. At the same time, Serbia is in the early stages of developing a civilian nuclear energy program. A decision on the future technology is not expected to be made for at least another year. "These are decisions with implications for the next 40 to 50 years and require long-term strategic planning," the minister emphasized. The post Serbia does not want to block the sale of Gazprom's stake in NIS appeared first on ostwirtschaft.de.