US Ambassador Nominee Seeks Change in NIS Ownership

Michael Young, the US presidential nominee for ambassador to Serbia, has stated his intention to advocate for a change in ownership of the Serbian energy company NIS. During a hearing before the US Senate Foreign Relations Committee, Young expressed a desire to see the removal of Russian ownership and control over the company.

NIS and its majority owner, Gazprom Neft, were targeted by US Treasury Department sanctions in January 2025. Following several delays, these restrictions took effect on October 9, 2025. The Serbian Ministry of Energy previously reported in November 2025 that Russian owners had notified US authorities of their readiness to transfer control of NIS to a third party.