Vucic stated Serbia's readiness to buy out Russia's stakes in NIS in case of US sanctions

Serbia is ready to buy out the Russian stake in the company Naftna Industrija Srbije (NIS) if the United States imposes sanctions. This was stated by the country's President Alekandar Vucic on January 5 on Radio and Television Serbia.

"We have the money to buy out [the Russian stake] right away," he said.

Vucic added that if the company is estimated to be worth €1 billion, the stake could be bought out for about €600 million.

He noted that the country would certainly like to avoid such an outcome, but is ready to buy Gazprom Neft and Gazprom's stake. At the same time, Vucic wondered what would be the point of sanctions if the money would immediately end up with Russia.

The president added that the document on US sanctions may arrive on January 10 or 13.

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Earlier in the day, Vucic said he wanted to have a telephone conversation with Russian President Vladimir Putin about the US sanctions against NIS. Also in January, he said that he had talked to a representative of the American side, but there was no good news on the issue of the expected sanctions of the States.

Vucic announced the start of negotiations with Russia and the United States over the possible imposition of sanctions against NIS from the American side back in December 2024. At the same time, amid reports of US plans to impose sanctions against NIS, he said Serbia was not ready to "even discuss" potential sanctions against Russia.

Western countries increased sanctions pressure on Russia after the start of the special operation to protect civilians in Donbas, which was announced on February 24.