President Vucic: Croatia Will Not Buy Sanctioned Serbian Oil Company NIS
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Serbian President Aleksandar Vucic said, as reported by local media, that Croatia will not buy Serbia’s oil company NIS (Naftna industrija Srbije), which is under US sanctions and majority-owned by Russia’s Gazprom Neft. "Since I see that in Croatia

“Since I see that in Croatia they keep spreading the story about becoming owners, I just have to tell them, and if there are any Russians thinking about this too, let me inform them, nothing of the sort will happen. Just keep that in mind,” Vucic said in an interview for the private broadcaster Informer TV

Over the weekend, Vucic announced that if no solution is reached this week in talks with the Russian and American sides regarding NIS, Serbia will take “independent action”. He did not specify what he meant by that.

NIS operates Serbia’s only oil refinery, located in Pancevo near Belgrade. The facility has an annual capacity of 4.8 million tonnes and meets most of the country’s needs. The Serbian state holds a 29.9% stake in NIS, while Gazprom Neft remains the majority shareholder with 44.9%. In late September, the St Petersburg-based company Intelligence, linked to Gazprom, acquired an additional 11.3% stake