Lavrov, Russian Foreign Minister, says that Moscow is in touch with Serbia about ownership of NIS oil company
Sergei Lavrov, the Russian Foreign Minister, said that Moscow had been in touch with "Serbian Friends" regarding the fate of Serbian Oil Company NIS. Belgrade is concerned about U.S. sanction because Russia's Gazprom owns a majority stake.
The Serbian president Aleksandar Vucic announced on Friday that, following the new U.S. sanction against Russia's oil industry, Gazprom will have 45 days to sell its ownership in NIS.
Vucic said that he met with the Russian ambassador in Serbia on Tuesday to discuss "the effects of U.S. Sanctions against Russian Companies" to his NIS.
Vucic stated that he had asked his Russian friends to start consultations and hold numerous meetings regarding the functioning of NIS.
He said the best solution to protect the mutual interests of both countries and their friendly relations should be found.
NIS is owned in majority by Gazprom - Gazprom holds 50% of the shares, while its parent Gazprom holds 6.15 %. The Serbian Government owns 29.87% of the shares, with small investors accounting for the remainder.
Analysts believe that Serbia could either purchase a Russian stake of %56.15 in NIS, or sell it to third parties. However, this will depend on an agreement with Russia.
At current market prices, the NIS shares that Russian companies purchased for $400 million in 2008 would be worth nearly 600 million Euros ($615,48 million) if sold. ($1 = 0.9748 euros)
(source: Reuters)