Serbia will have to buy Gazprom's entire share in the Serbian Oil Industry. However, the question is whether the exit of Russian capital from NIS will be accompanied by the removal of Moscow's influence from Belgrade
One thing is clear - Russia must completely get out of ownership in The oil industry of Serbia.
This change will happen by the end of February, at least according to the statements of the President of Serbia, Aleksandar Vučić.
It remains to be seen how Serbia will solve the entire ownership problem with Gazprom and in what way buy the Russian part.
Although Vučić has mentioned several times that the Americans must approve everything related to the purchase and sale of NIS, energy expert Miodrag Kapor tells "Vreme" that "Russian interests are the bigger problem for Serbia now."
"America will not get involved in whether and in what way Serbia will pay Russia foreign money," says Kapor. "The Government of Serbia is now worried because they are very close to the Russian Federation, so they are now fighting for NIS, not for Serbian, but for Russian influence."
The consequences of American sanctions, Kapor adds, have already begun, "so the Americans have already frozen certain NIS funds."
In this energy and economic, but primarily political exchange, Serbia, he thinks, will not get anything extra.
"America is already investing a lot of money, Serbia should show that it appreciates it now," thinks the energy expert.
Among the economic options for the purchase of NIS that Serbia now has, Ljubodrag Savić, a professor at the Faculty of Economics in Belgrade, previously told "Vreme", is the possibility for Serbia to buy all shares from Gazprom and become the owner of 100 percent of NIS, as and hostile takeover. However, there is also a potential "gentleman's agreement".
"Perhaps the Russians will agree that we pay them, and that they will later return the money and regain ownership, when the sanctions are lifted and the war is over," Savić said.
What does Vučić claim?
Serbia's oil industry will be able to operate regularly, but the ownership transformation plan must be started immediately and it must be approved by the United States, Serbian President Aleksandar Vučić said on January 10.
He pointed out that it is "about the heaviest sanctions affecting a company in Serbia".
"The complete exit of Russian capital and interests from NIS is sought. The company will be able to operate as usual, but we have to start with the ownership transformation plan immediately and it has to be approved by the United States. We will have 45 days for all operations, ending on February 25. Until then, we have to finish everything with Russia, we only have time until March 12 to extend the financial transaction, but that must also be approved by the US Ministry of Finance," said the President of Serbia.
Previously, the Office of Foreign Assets Control of the US Department of the Treasury added NIS to the list of sanctions directed against Gazpromneft and Russia.
Sanctions have been imposed against 180 ships, dozens of traders, two major oil companies and some executives in the Russian oil sector, the document states.
The decision states that sanctions were imposed on NIS due to its connection with Gazpromneft.
The largest shareholder of NIS is Gazpromneft, which holds 50 percent of the company's ownership, while 6,15 percent belongs to its parent company Gazprom.
For Serbia, the main problems are oil supply and problems with the Refinery and Petrochemicals and other giants, which will directly affect our economy.
Serbia formed two teams for negotiations, as well as the Coordinating Body for Oil Supply.
How will we buy the sold NIS
Energy expert Miodrag Kapor previously told "Vreme" that "a large part of the opposition in Serbia is dependent on relations with Russia."
"That is why it is possible that the Russians will be cooperative on the surface," Kapor added.
One of the options is that, he adds, they will behave as in the case of the sale of Serbian weapons to Ukraine, when they acted as if they did not see it.
However, it is certain, Kapor thinks, that they will ask for something in return. "Maybe they'll say - here's the part of the NIS you need, but put our man in."
That's why, says Kapor, the best thing for NIS and Serbia would be for professional management to head the company, after the takeover, and not for the government to get the opportunity to appoint a "Serbian-Russian director".
Minority shareholders should also be taken into account, because no one asked them what they wanted.
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