Serbia ready to buy NIS if needed, but oil industry must keep operating

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Srbijagas Director Dušan Bajatović said that Serbia will support any proposal put forward by the Russian side regarding the future of NIS — whether Russia decides to sell the company to a third party or whether Serbia is asked to buy it. However, he emphasized that the oil industry must continue operating under all circumstances.

Speaking for RTS, Bajatović said he would not yet discuss nationalization, but warned that Serbia has limited options, as the situation threatens the stability of the country’s entire banking system — which he described as the most dangerous scenario.

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“There is no more time, and a decision has to be made. It was clear that a management takeover would not be accepted, and that only a clear plan for the withdrawal of Russian capital would be considered. This is not Serbia’s choice but the consequence of U.S. sanctions. Such a plan has not been submitted to OFAC by the Russian side. We will support whatever proposal the Russian side puts forward,” he said.

“If they cannot reach an agreement, Serbia is offering more money than we would like, but this is a matter of national interest — NIS must continue to operate. If even that is not acceptable, then we must consider options that are not good for our relations with Russia, which has been our protector,” Bajatović added.

He stressed that nationalization should not be discussed before the option of purchasing NIS is fully examined, noting that no “friendly takeover” would be sufficient in the current situation.

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Bajatović also said that Serbia will have no heating issues during the winter, as the country has adequate reserves of energy sources for the season.

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