Pressed by Sanctions: Western Coercion and the Future of Russian–Serbian Relations

... out of its energy industry exposes the real limits of national sovereignty in a world where the United States is asserting its will with increasing disregard for established norms and rules. The fate of the Serbian company Naftna Industrija Srbije (NIS) already turned into an extremely complex political puzzle last year, in 2025. The crisis surrounding Serbia’s key energy asset—accounting for up to 5% of GDP and around a tenth of budget revenues—demonstrated that it is impossible to manoeuvre ...