US EditionRussian Owners Agree to Sell Controlling Stake in Serbian Oil Firm, Belgrade Says
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16 Articles
Russian Owners Agree to Sell Controlling Stake in Serbian Oil Firm, Belgrade Says
Russian stakeholders in Serbia’s state-linked oil company NIS have agreed in principle to sell their controlling share, Serbia’s energy minister said Wednesday, a move aimed at lifting U.S. sanctions that threaten to shut down the country’s only refinery.
The Russian owners of the Serbian Oil Industry are ready to sell their majority stake in the company, which has been the target of US sanctions for more than 40 days.
It was not said to whom NIS could be sold and whether one of the possibilities is for Serbia to buy out the Russian majority stake in the company.
Ownership transfer begins at NIS, state demands continued refinery operations and new oil inflow
Russian owners have agreed to sell their share of ownership in the Oil Industry of Serbia, which amounts to 56.15 percent, said Minister of Mining and Energy Dubravka Đedović Handanović.
Several companies and countries are considered informal favorites to buy the Oil Industry of Serbia (NIS). Could Serbia also buy out Russia's stake in NIS?
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