Hill: Aim of Any Sanctions Against NIS Oil Company Would Not Be to Harm Serbia

Christopher Hill (BETAPHOTO/MILOS MISKOV)

U.S. Ambassador to Serbia Christopher Hill said in Belgrade on Dec. 16 that any U.S. sanctions against the NIS oil company would be directed at Russia, not Serbia, and that Washington would not do anything to harm the Serbian economy.

After a meeting with Serbian Interior Minister Ivica Dacic, Hill told reporters that, while he could not confirm or discuss any impending sanctions, he could say that the U.S. would not do anything to harm the Serbian economy in any way. He added that the matter would be discussed in detail with the Serbian government to ensure there would be absolutely no damage to Serbia, as that was not the purpose and would not be the outcome of any sanctions.

Hill said he had already discussed possible sanctions against NIS, whose majority owner is Russian, with the representatives of Serbian authorities and would continue to do so, but noted that the issue would not affect the partnership between the U.S. and Serbia.  He also said the U.S. had been "very concerned" since the Russian Gazprom bought a majority of shares in the Serbian NIS oil company in 2008, as this became an extremely profitable investment.

Hill said that Russia had been turning a large profit on it, which it did not reinvest in Serbia, going on to say that this was especially concerning since the beginning of the war in Ukraine almost three years ago, as Russia was using funds made from NIS to finance the war.