Vucic not ruling out that Serbia could buy out Russian side's stake in NIS

BERLIN. Nov 17 (Interfax) - The Serbian authorities, under a certain development of events, could buy out the Russian side's stake in the oil and gas company NIS, Serbian President Aleksandar Vucic said on Sunday.

According to information from the Serbian television company RTS, Vucic said that contacts are ongoing regarding the sale of this stake to European and Asian partners.

"If they do not agree on the price, I suggest you consider the possibility of offering a more favorable price," Vucic said during a government meeting.

In addition, Vucic called for accelerating negotiations on the future of NIS and making concrete decisions within the next week.

"The [U.S.] sanctions against NIS have been in effect for 37 days, but no one in Serbia has felt the negative consequences, as we prepared well. We have sufficient fuel reserves and there is no reason for panic. However, we must not allow the use of all our reserves, as that would lead to supply disruptions," he said.