Economist Ljubodrag Savić stated that the United States’ announcement of sanctions on NIS due to Russian ownership is primarily aimed at Russia. He emphasized that the West is clearly seeking ways to exert pressure on countries that have not imposed sanctions on Russia.
Savić explained that Serbia will likely bear the collateral damage of this situation. “This is yet another impossible mission being prepared for Serbia. It’s a complex issue, and for our country, whatever we do will not lead to a good outcome,” Savić told Tanjug. He outlined two options for Serbia: either to take majority control of NIS or to impose sanctions on Russia to prevent the company from being affected. However, he pointed out that Serbia can only reprivatize NIS if the Russians agree.
Savić emphasized that nationalization is a step typically taken only by powerful, wealthy countries, and Serbia cannot afford this move, especially given its longstanding good relations with Russia.
He further explained that the current situation implies that without controlling the majority ownership of NIS, Serbia will face significant challenges. Additionally, if the Russians agree to allow Serbia to privatize the company, it could harm the country’s public finances and credit rating, which would worsen the situation.
When asked about the feasibility of regaining majority ownership in NIS, Savić noted that it is a difficult question, and the country’s leadership likely does not have an answer at this time. “We have two alternatives: impose sanctions on Russia, making ownership of the company irrelevant, or reprivatize it. Both options are unacceptable for Serbia. This is a nearly impossible situation with no satisfactory solution for any of the parties involved,” he said.
According to Savić, the West’s plan to impose sanctions on NIS is ultimately an attempt to completely isolate Russia politically and economically from the rest of the world.
He added that while sanctions from Serbia would not be a major issue for Russia, they would cause significant problems for Serbia, including much higher gas prices—potentially from $350 to $500 per 1,000 cubic meters—if the current arrangement is disrupted.
President Aleksandar Vučić earlier remarked that, regarding the U.S. announcement of sanctions on NIS due to Russian ownership, Serbia would need to urgently find a solution. However, he stated that, as president, he is not ready to discuss the possibility of imposing sanctions on Serbia or Moscow at this time.
