Two boys, one Serbian and one Albanian, are friends despite the war and you see about this portion of their lives through a flashback that involves a bicycle. But it's hard to remain friends when the Serbian kid is being pulled one way and the Albanian the other. The climax comes like a brick against your skull and left many in the audience on the verge of tears.
I have seen quite a few films about the civil wars that tore Yugoslavia apart. None of them are pleasant and really cannot be. However, this one stands out because the acting by the kids is very nice and the story very well directed and paced. It's hard to pick the best of the five nominees and after a lot of thought, I think this one is best. Will it win the Oscar, I have no idea. As I already mentioned, there are three depressing films (including this one) and they might tend to take votes from each other.
I'll be updating this review after the Oscars are announced on February 28th.
UPDATE: "Stutterer" took the Oscar for Best Live Action Short.