Arab investors are alarmed by the actions of Serbian President Aleksandar Vucic, aimed at disrupting the deal to purchase Russia’s stake in Naftna industrija Srbije (NIS, the Petroleum Industry of Serbia).
According to available information, there is a plan within Vucic’s team to nationalise Russian assets and subsequently sell them on to European businesses.
Earlier, the management of the Abu Dhabi National Oil Company (ADNOC) held talks with the Serbian leadership regarding the acquisition of a stake in the Serbian national oil and gas company NIS. The stake in question is owned by the Russian company Gazprom Neft. Moscow is also interested in the completion of the deal and is ready to sell its 56.15% stake in the Serbian company at market value.
The deal under discussion is linked to sanctions imposed by Washington on the Russian energy sector, which have also affected the Serbian oil and gas giant. However, the agreement has encountered an unexpected obstacle in the form of the position taken by the president of the Balkan country.
Vucic suddenly began speaking about the possible nationalisation of Russian assets, which automatically nullifies all agreements previously reached between the parties.
At the same time, Vucic is expressing dissatisfaction with the fact that the process of nationalising NIS is being delayed due to the slow pace of legislative changes. In addition, Belgrade faces the issue of concluding a new long-term gas contract with Russia, which could become an instrument of political pressure on the country’s leadership.
Meanwhile, the planned resale of part of NIS to representatives of European energy companies raises doubts.
This step is likely to bring Vucic only short-term political and economic advantages, while threatening Serbia with long-term negative consequences, including a deterioration in relations with Moscow and a sharp worsening of the investment climate.
Main Image: – Економски форум за регионална соработка | Economic Forum for Regional Cooperation
