Croatian Minister of Economy Ante Šušnjar has said that Croatia is prepared to acquire Russian-owned oil company NIS in Serbia, which came under US sanctions this week. Croatian state-owned oil pipeline operator Jadranski naftovod (JANAF) relies heavily on deliveries to NIS, and Šušnjar believes the acquisition would benefit both Croatia and Serbia.
Šušnjar said yesterday that Croatia is prepared to do so to protect JANAF, whose business has relied on ties with NIS for the past 40 years. He emphasized that there is no intention to dominate Serbia’s retail market.
According to the Minister, if Croatia were to take over NIS, it would ease the situation for both Croatia and Serbia. The sanctions also pose an additional challenge for Bosnia and Herzegovina, given that 20% of the country’s oil derivatives market is supplied by NIS’ refinery in Pančevo, he noted.
The US imposed sanctions on Russian state-owned Gazprom Neft, which until recently held a 50% stake in NIS, with its parent company Gazprom controlling a further 6.2%. After a reshuffle, Gazprom Neft now owns 44.9%, and Intelligence, a firm within Gazprom’s system, 11.3% of NIS. Serbia’s stake is 29.9%.
Full story Šušnjar: Croatia prepared to buy oil company NIS in Serbia
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