Serbian President says Russia, US and Hungary vie for control of NIS oil firm
President Aleksandar Vučić said the future of Serbia's Naftna Industrija Srbije is tangled in competing Russian, American and Hungarian interests.
In a statement, President Aleksandar Vučić outlined the tangled web of interests surrounding Serbia's oil company Naftna Industrija Srbije. He said Belgrade has exhausted its options to resolve the situation, yet the clash of strategic goals among Russia, the United States and Hungary keeps the case unresolved. Russia aims to retain control of the firm, whereas the United States opposes Russian influence and could be interested in buying the asset.
Hungary, Vučić added, also holds a "serious interest" in the outcome. Meanwhile, Serbia plans to release diesel shipments of twenty-thousand tonnes to maintain fuel supplies, and the government reports that domestic fuel availability remains full despite rising international energy prices.
Why it matters
The dispute highlights how great-power rivalry can affect Serbia's energy sector and regional market stability.
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