Washington has imposed sanctions on Serbia’s largest oil and gas company due to Russian ownership. More details are to emerge in a joint press conference on Saturday.
Serbia’s President Aleksandar Vučić has said on Friday he would hold talks with Russian President Vladimir Putin after the US targeted Serbia’s main oil and gas company NIS with sanctions over Russian ownership.
In a press conference, Vučić stated that the US is demanding the immediate removal of the Russian state-owned company Gazprom from the corporation.
According to Vučić, “From what we’ve seen, it’s more about ‘removal’ than ‘reduction.’ They won’t even allow a 49-percent option; they want a complete exit from NIS. NIS might be able to continue its regular operations, but we would need to immediately begin a plan to change the ownership structure.”
On Saturday, details of the sanctions’ demands are scheduled to be explained in a joint press conference between Serbian and US representatives.
There is speculation that the talks with Putin may focus on Serbia buying Moscow’s stake in the company.
Until now, Serbia has benefited from a competitive edge due to its agreement with Russia.
The newly imposed sanctions, however, will deal a significant blow to the country’s economy.
Video editor • Evelyn Ann-Marie Dom
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