T he U.S. State Department has declined to confirm whether sanctions are being considered against Naftna Industrija Srbije (NIS), Serbia’s largest oil company, which is majority-owned by Russia ...

Last month, Gazprom Neft transferred a 5.15% stake in NIS to to its parent company Gazprom, cutting its ownership stake to 44.85%. Gazprom was not targeted by the sanctions. Serbia's government is the ...

"Good news for the citizens of Serbia." The Biden administration in December announced it would impose sanctions on Serbian oil company Naftna Industrija Srbije, which is majority-owned by Russia's ...