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Serbia engages in dialogue with U.S. over NIS sanctions to ensure smooth operations

The Minister of Mining and Energy, Dubravka Đedović Handanović, emphasized the importance of engaging in dialogue with the new U.S. administration regarding the sanctions on NIS, Serbia’s state-owned oil company. She stated that Serbia aims to demonstrate its reliability as a partner and continue the strong relations established during Donald Trump’s previous term in office.

While acknowledging the challenges ahead, Đedović Handanović assured the public that the government is committed to finding a solution. “We will engage with all parties to explore solutions. It’s crucial that we receive further clarifications from the American side, and we will seek those clarifications in writing. Sanctions are a political instrument crafted by lawyers,” she said during an appearance on “Happy” television.

She also mentioned that talks with Russian counterparts have already begun, with more discussions scheduled for Friday. These talks are aimed at ensuring the smooth operation of NIS despite the challenges posed by sanctions. “We do not want to deplete reserves, and we aim to engage constructively with the Russian side to find a way to protect NIS and ensure the company continues to operate without losing market value. The contract stipulates that consultations will take place if one party fails to meet its obligations,” Đedović Handanović explained.

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NIS remains the largest supplier in the market, and Đedović Handanović stressed the importance of keeping the refinery operational. “Ensuring the refinery continues to function is crucial for market supply. We also need to collaborate with other market players to see what can be done to increase capacity, expand storage facilities, enhance imports, and improve logistics and transportation,” she added.

Additionally, the Minister shared details of her conversation with Hungarian Foreign Minister Péter Szijjártó, focusing on accelerating joint projects such as the Serbia-Hungary oil pipeline, which serves as an alternative oil supply project. “We are utilizing Hungarian gas storage, and they are exploring renewable energy cooperation with us. We also discussed the importance of ensuring the smooth operation of the Balkan Stream and working with NIS partners to reach a solution that enables the company to operate effectively,” Đedović Handanović said.

She noted that Hungary, too, is impacted by sanctions, particularly with Rusatom’s involvement in building a nuclear power plant in Hungary, highlighting the shared interest in negotiating with the new U.S. administration. Đedović Handanović also suggested that it is in Croatia’s best interest for NIS to continue its supply via Janaf, recommending that the Croatian side engage with the U.S. administration on this matter.

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