Russia’s state owned energy firm Gazprom Neft is preparing to leave its position in Serbia’s major oil company NIS after new rounds of Western sanctions intensified pressure on Moscow linked assets across Europe. The move marks one of the most significant shifts in Serbia’s energy landscape in more than a decade.

The Serbian government confirmed that negotiations are underway to transfer Russian owned shares to new investors following a US sanctions package that targets sectors providing strategic or financial support to the Kremlin. For Serbia, which has long balanced ties between Moscow and Washington, the development signals a forced recalibration of its energy independence and foreign policy posture.

NIS, one of the Balkans’ largest oil and gas companies, has been majority controlled by Gazprom Neft since 2009. The sanctions on Russian companies have created mounting financial and operational constraints, making continued ownership untenable. Western officials say the restrictions are designed to undermine Russia’s ability to fund and expand its energy leverage abroad.

For Serbia, the transition will not be simple. The country relies on NIS for refining capacity, fuel distribution and energy security. Removing Russian ownership means renegotiating supply contracts, reconfiguring strategic investments and avoiding short term disruptions in a market already strained by global price volatility.

Geopolitically, the shift also underscores the tightening pressure on countries in Eastern Europe to align more firmly with Western policies. Analysts note that Serbia’s long standing diplomatic balancing act between Russia and the European Union will be tested further as sanctions reshape the region’s energy map.

Washington has framed the exit as a necessary step to limit Moscow’s influence. Serbian officials, however, insist the transition will be orderly and structured to protect domestic energy needs.

The next phase will determine whether Serbia can attract stable partners fast enough to prevent gaps in supply and whether the move accelerates Belgrade’s gradual drift toward EU aligned energy frameworks.