Vucic: Paper confirming US sanctions against NIS expected on January 10 or 13

"There won't be any crisis, we have enough oil reserves, and the paper from the US on sanctions against NIS will arrive on Friday or Monday, January 10 or 13", Vucic told Radio-Television of Serbia (RTS).

Vucic said on Saturday that the US Undersecretary for Economic Growth, Energy and Environment, Jose Fernandez, confirmed to him that the country would impose direct sanctions on NIS.

"For us, there are only two, so to speak, unknowns. One is whether it refers to complete Russian ownership or only to the majority set of shares. The second is deadlines. I asked for the longest possible deadlines. We will see what it will look like", said Vucic.

NIS is one of the most important energy companies in Southeast Europe. Its main production facilities are located in Serbia, Bosnia and Herzegovina, Bulgaria, Romania and Hungary. The majority shareholders are Gazprom (56.15 percent of shares) and the State of Serbia (29.87 percent).