Hungary stands with Serbia, supports extension of NIS license; Djedovic thanks Szijjarto

Photo: Instagram/dubravka.djedovic

Serbian Minister of Mining and Energy Dubravka Djedovic has announced that Hungary has officially supported Serbia's request to extend the license to Petroleum Industry of Serbia (NIS).

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The United States previously announced sanctions against NIS, but that country's OFAC (Office for Foreign Assets Control) has since been issuing licenses delaying this decision.

Hungary's support comes at a crucial moment for energy stability of Serbia and the region, the Serbian minister stated.

"I am grateful to my dear colleague Peter Szijjarto and the Government of Hungary for their support to the NIS company and to our country. It confirms our strategic partnership and understanding between our countries in challenging times!," Djedovic posted on Instagram.

She pointed out that Hungary clearly recognizes the seriousness of the potential consequences that disruption of the operations of NIS would have on the Serbian market, but also in the wider region.

"I believe that, with this kind of support, it will be possible to secure additional time necessary to establish a sustainable and long-term solution, which will protect the interests of citizens and the economy not only of Serbia, but also of the entire region," said the minister.

NIS, as one of the key energy systems in Serbia, currently operates under a license issued by OFAC. The sanctions were announced because the ownership structure of NIS includes Russian partners, and any extension of the license depends on political and diplomatic relations.

Hungary's support at this moment additionally confirms strategic cooperation between the two countries in the field of energy, but also the wider political consensus in the region regarding the importance of stable energy supplies.

(Telegraf Biznis)