Oil and gas company NIS (BETAPHOTO/EMIL VAS)
Experts are proposing different legal solutions for getting the NIS oil company out from under the sanctions of the U.S. Treasury Department's Office of Foreign Assets Control so it can resume the production of petroleum products, Forbes Serbia reported on Nov. 26.
Milan Parivodic, an attorney and former minister, said Serbia could solve the problem of the threat to fuel supply to the market due to NIS having to shut down its operations if the Serbian parliament adopted legislation on administrative takeover. "This would not be legislation just for NIS, but general systemic legislation to regulate certain potential future cases too," Parivodic said.
He added that Serbia should take a page from Germany's and Bulgaria's books in assuming control over Russian-owned companies. In 2022, Germany placed the assets of Russian oil giant Rosneft under government trusteeship based on the Law on energy security.
The attorney Tomislav Sunjka, conversely, believes that the legal foundation for taking over NIS stock already exists. He reminded that the Law on ratifying agreements between the Federal Republic of Yugoslavia and the government of the Russian Federation on the stimulation and mutual protection of investment, which is still in force, allowed it.
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