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Due to ties with Gazprom: US imposes sanctions on Serbian oil company NIS from October 1

We will pay a high price because the Russians are the majority owner of the company, said President Aleksandar Vucic

The US is imposing sanctions on the Serbian oil company NIS from October 1, announced President Aleksandar Vucic, RTS reported, quoted by BTA.

Vucic, who is in New York to participate in the 80th session of the UN General Assembly, said that the US has postponed sanctions against NIS for only four more days and accordingly they will enter into force on the first day of next month.

The sixth consecutive postponement of US sanctions expires on September 27.

NIS was placed on the US sanctions list in early January this year due to its ties to the Russian company "Gazprom Neft", which is under Western sanctions due to the Russian invasion of Ukraine.

"Gazprom“ has effectively withdrawn from ownership of Serbia's oil company NIS after its shares were taken over by the Russian company "Intelligence“, it became clear a few days ago, according to data from the Belgrade Stock Exchange.

"We will pay a high price because the Russians are the majority owner of NIS. So - to be absolutely clear and to make it absolutely clear to all our citizens – we were extremely correct towards our Russian and American partners", said the Serbian president.

He pointed out that the reserves will be available in the next period, but that there will be a problem with the payment of salaries to NIS employees, as well as with all other transactions, since no bank will want to cooperate with a company that is under US sanctions.

"Let's wait, maybe a miracle will happen by October 1. We have difficult times ahead and a harsh winter. We will do everything possible so that citizens have a warm winter in their homes and do not worry about fuel for their cars, including those who drive trucks. And everything else will be much, much more difficult", Vučić stressed.

He noted today that Serbia is working to find a solution after the introduction of sanctions, but that there is very little interest from certain countries in the problems facing the country.

The head of state announced that he currently does not see a solution to this problem, and called on everyone in Serbia to point out a solution if they see one.

"What should I do - threaten the Russians, the Americans? We are small, there is no point, and I have to provide oil for the people", Vučić stressed.