Acting US Ambassador to Serbia, Alexander Titolo, stated that the American sanctions on Naftna Industrija Srbije (NIS) are intended to apply financial pressure on Russia to end the war in Ukraine, not to harm the Serbian people.
In an interview with Blic, Titolo emphasized that Serbia should take steps to remove Russian ownership from NIS, gain control over key energy resources, and achieve greater energy independence. He added that the US is ready to cooperate with Belgrade on diversifying its energy sector and reducing reliance on unreliable suppliers.
“We hope and expect that once this situation is resolved, Serbia will emerge economically stronger. A stronger Serbia potentially opens new opportunities in our bilateral relations. We look forward to the upcoming US-Serbia Strategic Dialogue to explore and enhance these opportunities,” he said.
Titolo noted that NIS revenues fund Russia’s war efforts and suggested that Russia could resolve the situation immediately by selling its stake in NIS at a fair price. He also highlighted that, in the spirit of cooperation, sanctions implementation had been delayed for nearly nine months, with close coordination between the US and Serbian authorities.
He added that Russian ownership and control of NIS limit Serbia’s ability to diversify its energy sector, achieve independence, and allow advanced companies to compete in developing the sector, thus posing a barrier to economic growth.
Addressing potential speculation that the timing of sanctions was politically motivated to destabilize Serbia, Titolo firmly denied this, stressing the US’s respect for Serbia’s commitment and the strengthening bilateral partnership under President Vučić.
“Strengthening US-Serbia relations is a key priority for President Trump’s administration. We are serious about building a strong partnership based on mutual respect and opportunities, and we appreciate President Vučić’s dedication to deepening relations with the United States,” he concluded.
