According to notices made public by Belgrade stock exchange BELEX, Gazprom Neft reduced its stake in NIS to 44.85% from 50%. At the same time, Gazprom increased its stake in the Serbian oil company to 11.3% from 6.15%.

Russian oil producer Gazprom Neft has transferred around 5.15% of its shares in Serbian oil and gas company NIS to parent company Gazprom in response to US sanctions, reported Reuters. The move aims to prevent disruptions in Serbia's crude oil supply by complying with the sanctions imposed on Russia's oil sector on 10 January,

Russia’s Gazprom Neft has reduced its ownership in Serbia’s top oil company, NIS, just as a US-imposed deadline on sanctions approaches. The move aims to prevent potential penalties that could cut off Serbia’s oil supply.