RIA Novosti reported that Serbia is set to review a deal to sell Russia a stake in its national oil company, including pricing, almost six months after it was signed.

According to the report, a protocol on the sale of a 51% stake in Naftna Industrija Srbije to Gazprom Neft, the oil arm of Russian energy giant Gazprom for EUR 400 million and investment in the modernization of the company's facilities worth at least EUR 500 million was signed in Moscow on January 25th.

Mr Mladjan Dinkic who also holds the position of a deputy prime minister said Serbian negotiators would put the country's interests first and show no indulgence considering all market factors before making any decision. He said the negotiations would focus on protecting the environment and the price offered by Gazprom for the state owned NIS assets. He added that "We will try to do all we can in Serbia's interests."

Russia and Serbia are also bound by an agreement on the South Stream gas pipeline, under which a 400 kilometer will be built in Serbia for Russian natural gas transits and supplies to the Balkans.