Serbian cabinet ministers approved the Gazpromneft’s bid to acquire 51 percent stake in Naftna Industrija Srbije (NIS, Petroleum Industry of Serbia). The agreement between the two countries was signed on January 25. Final approval of the parliament would only be obtained after the elections on May 11. Among other things, the agreement allowed Serbia to join the South Stream gas pipeline project. The Serbian section of the future gas pipeline will enable Russia to supply its gas to the Balkans and other European countries through the Black Sea, Bulgaria and Serbia1.

• 1. “Serb govt approves oil and gas deal with Gazprom,” Forbes, May 12, 2008, at www.forbes.com/feeds/afx/2008/05/12/afx4997110.html