Economy

Belgrade is considering nationalization of the Serbian Oil Industry

Amid growing pressure from the United States to fully withdraw Russian shareholders from the oil and gas company NIS (Oil Industry of Serbia), Belgrade is considering nationalizing it.

This was announced by the Minister of Mines and Energy of Serbia Dubravka Jedovic-Handanovic during a briefing, "Komersant Ukrainian" writes, citing local media.

The Minister emphasized the need to make extremely difficult decisions for the country.

“The functioning of the NIS is critically important for us – for our country, our economy and our citizens,” she said.

Jedovic-Handanovic reminded that the country’s leadership has traditionally opposed nationalization, but the situation is becoming critical. She also announced an emergency government meeting on November 16.

The head of the energy ministry expressed hope that the Russian side would take into account the level of pressure that Belgrade is under.

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