By Tatyana Kekic in Belgrade Serbia will take steps to acquire the Russian stake in its sole oil company, NIS, following sanctions imposed by the United States and the United Kingdom targeting Russian entities,

The Serbian Oil Industry Corporation (NIS) is currently facing pressure from the United States, which is demanding the withdrawal of Russian capital from the company. Serbian President Aleksandar Vučić mentioned "the toughest sanctions" from the U.

Russian oil company Gazprom Neft, a subsidiary of the energy giant Gazprom, has been given 45 days to divest from its ownership of the Serbian oil company NIS following new US sanctions targeting the Russian oil sector.