Russian companies will sell their stakes in Serbia's Naftna Industrija Srbije due to Western sanctions. This move aims to ensure fuel supply stability in Serbia amid rising tensions.

Russian companies, including Gazprom Neft, are set to sell their shares in Serbia's Naftna Industrija Srbije (NIS) following the imposition of Western sanctions. Gazprom Neft holds a 44.9% stake in NIS, while its parent company has an additional 11.3%. The Serbian government retains a 29.9% share. Serbian Energy Minister Dubravka Djedovic Handanovic confirmed that the Russian firms have requested a sanctions waiver from the U.S. Treasury to facilitate the sale. This decision is critical as NIS is a major fuel provider in Serbia, and the sanctions have already disrupted its operations, with banks halting payments and the JANAF pipeline ceasing crude oil deliveries. The refinery is projected to run out of supplies by November 25 without new crude. The urgency of the situation is heightened as Serbia prepares for winter and seeks to ensure its energy security amidst escalating geopolitical tensions.