Serbia Prepares Legal Path To Nationalize Russian Refinery After US Sanctions

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The Serbian government is preparing to nationalize the NIS refinery, majority owned by Russia's Gazprom Neft and Gazprom, in response to US sanctions, with a potential amendment to the budget law.

Market Impact

Market impact analysis based on bearish sentiment with 72% confidence.

Sentiment
Bearish
AI Confidence
72%

Article Context

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The Serbian government is preparing an amendment to the country’s budget law that will allow it to nationalize the Naftna Industrija Srbije (NIS) refinery, majority owned by Russia's Gazprom Neft and Gazprom, if no third party offers quickly emerge. Last week, NIS submitted a request to the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) to continue operations until negotiations for an ownership change conclude. "One of the amendments that will be submitted will be the one that will foresee the circumstance that at some…

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Original article published by OilPrice.com on November 26, 2025.
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