The transfer is taken into account because the last-ditch choice to keep away from potential US sanctions in opposition to the corporate, Aleksandar Vucic says
Belgrade is able to buy Russia’s share within the Naftna Industrija Srbije (NIS), a key power firm in Serbia, within the wake of looming US sanctions in opposition to it, President Aleksandar Vucic has introduced.
Vucic made the remarks on Sunday in an interview with Serbian nationwide broadcaster RTS. Shopping for out NIS is a last-resort choice to keep away from the potential restrictions, the president defined.
NIS is predominantly owned by Russian power giants Gazprom Neft and Gazprom, which maintain 50% and 6.15% stakes respectively, whereas the Serbian authorities itself owns 29.87%.
“We now have the cash to purchase it out straight away. If the corporate is estimated to be value a billion euros, then we’re speaking about 600 million or so… Wouldn’t it be 500-600-700 million, it doesn’t matter,” he mentioned.
On the similar time, Vucic questioned the targets of the looming US sanctions, stating that the potential sell-off of the NIS shares would offer Russia with cash immediately. The restrictions, first reported by the president late final 12 months, are anticipated to be rolled out by January 10 or 13, Vucic added.
It was not instantly clear what precisely the fee estimates voiced by Vucic have been primarily based on. In accordance with the 2023 checklist of the nation’s prime 100 firms, compiled by the Serbian authorities, the estimated value of the NIS belongings alone stood at some €4.4 billion ($4.5 billion).
Individually, Serbian Minister of Mining and Vitality, Dubravka Dedovic, has introduced the creation of a workgroup tasked with hanging a brand new long-term pure fuel provide contract with Russia.
“We are going to attempt to attain a brand new long-term settlement with Russia on fuel provides on higher phrases,” she acknowledged, as quoted by RTS, including that retaining shut ties with Moscow was an “absolute precedence” for Belgrade.
NIS has mentioned that it’s conducting enterprise as common and monitoring the state of affairs. Work continues with out interruption and there are not any shortages of merchandise at NIS-owned fuel stations, in response to its assertion.
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