Published by Global Banking & Finance Review®
Posted on January 10, 2025
1 min readLast updated: January 27, 2026
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Gazprom Neft has 45 days to exit ownership of Serbia's NIS due to US sanctions targeting Russia's oil sector, according to Serbian President Vucic.
BELGRADE (Reuters) - Following new United States sanctions against Russia's oil sector, Gazprom Neft will be given 45 days to exit ownership of the Serbian oil company NIS, Serbian President Aleksandar Vucic said on Friday.
NIS is majority owned by Gazprom Neft which holds a 50% stake and Gazprom which holds 6.15% of shares.
The Biden administration on Friday imposed its broadest package of sanctions yet targeting Russia's oil and gas revenues in an attempt to give Kyiv and the incoming administration of Donald Trump leverage to reach a deal for peace in Ukraine.
"They demand from us a complete exit of Russians from NIS, remove, not reduce," Vucic said. He said the Balkan country will be given a March 10 deadline to close the deal with Russians.
(Reporting by Ivana Sekularac and Daria Sito-Sucic; Editing by Kirsten Donovan)
The main topic is Gazprom Neft's required exit from NIS ownership due to US sanctions on Russia's oil sector.
The US sanctions target Russia's oil and gas revenues to leverage peace negotiations in Ukraine.
Serbian President Aleksandar Vucic announced the 45-day deadline for Gazprom Neft's exit.
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