Economist Aleksandar Stevanović warned that Serbia will soon face strategic decisions that could significantly impact either its economy or its relations with major powers, particularly Russia and the United States. He emphasized that Serbia cannot prioritize affinity for Russia over its own national interests.
Stevanović highlighted that energy issues are becoming central and that the effects of U.S. sanctions on NIS and related political decisions will be felt in the coming months. He noted that while Serbia can manage under the sanctions until the end of the year, problems could grow afterward, especially if NIS is forced to reduce its refining of oil derivatives, which would affect the domestic market.
He criticized Serbia for relying heavily on Russian energy for years without diversification, calling it a long-term vulnerability. Stevanović suggested that a possible solution could involve changing NIS’s ownership structure if Russia does not compromise. He clarified that this would not constitute nationalization but a legally justified adjustment, such as buying out shares or using legal procedures in the event of potential insolvency.
Stevanović also stated that Serbia’s strategy of balancing relations between the EU, U.S., Russia, and China has reached its limits, leaving the country perceived as an unreliable partner. He warned that Serbia may soon have to make decisions that could harm either its economy or its relations with one or both of these major powers, unless the Russia-Ukraine conflict ends sooner than expected.
