Serbia’s President Vucic Plans Talks with US and Russia Over Imminent Sanctions on NIS

Serbian President Aleksandar Vucic has announced plans to engage in discussions with the United States and Russia this week regarding proposed US sanctions on Naftne Industrije Srbije (NIS), Serbia's primary oil and gas company. The sanctions target the firm due to its majority ownership by Russia’s state energy giant, Gazprom.

Speaking to Serbian broadcaster Informer TV on Saturday, Vucic confirmed that Washington plans to impose these sanctions starting January 1, 2025. The Serbian government reportedly received official communication from the US outlining the proposed measures, which could severely impact the nation’s energy supply.

In a video address shared on Instagram on Sunday, Vucic reiterated the seriousness of the situation, revealing that discussions had already taken place with BIA, Serbia’s national security agency, to strategize a response.

“We reviewed official information confirming that sanctions will be imposed on NIS by the US and other countries. We discussed how to address this issue, ensure the safety of Serbian citizens, and maintain energy security,” Vucic stated. He emphasized that negotiations with all relevant stakeholders, including the US and Russia, would begin immediately.

The president underscored that Serbia's primary objective in these talks is to safeguard its energy stability and shield its citizens from disruptions. “What matters most is ensuring that, despite these challenges, the standard of living, businesses, and daily lives of Serbian citizens remain unaffected,” he said.

The US has yet to officially confirm the proposed sanctions.

In an earlier interview, Vucic described the potential sanctions as a significant threat, warning they could leave Serbia without oil during the critical winter months. He suggested the move might be part of a broader geopolitical strategy to pressure Russia, as numerous Russian companies have faced Western sanctions since the escalation of the Ukraine conflict.

Despite maintaining neutrality in the Ukraine war, Serbia has consistently refused to join sanctions against Russia, citing its longstanding economic ties with Moscow. Vucic has also openly criticized Western nations for banning Russian energy, cautioning that they may eventually need to ask Moscow to restore supplies to avoid an energy crisis.