Major change in Gazprom's stake: This company is MAJORITY OWNER - how will it affect sanctions against NIS?

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Russian giant Gazprom has transferred almost all of its shares in the Petroleum Industry of Serbia (NIS) - keeping only one.

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Joint-stock company Intelligence from St. Petersburg, which is Gazprom's daughrer company, has taken over 11.3 percent of NIS shares. The transaction was completed on September 19.

Gazprom Neft is now the largest shareholder in NIS with 44.85 percent, followed by the Republic of Serbia with 29.87 percent and Intelligence with 11.3 percent, while the rest is held by small shareholders, RTS reported.

At the same time, the Petroleum Industry of Serbia sent a new request to the US Treasury Department in order to postpone US sanctions against NIS, since the previous one-month extension expires on September 26.

President Aleksandar Vucic has stated that he fears there will be no further postponements of US sanctions against NIS.

(Telegraf Biznis)