"OFAC extending deadline for NIS negotiations is a positive signal": Expert explains the situation

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Marko Miskeljin from the Center for Social Stability said today that it is a positive signal that the US Office for Foreign Assets Control (OFAC) has issued a new license for NIS (Petroleum Industry of Serbia) to extend the deadline for negotiations on the sale of the Russian stake in the company, but added that the deadline set by the Serbian authorities, to find a solution by January 15, still remains.

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Miskeljin told Tanjug that it would be better if this decision by OFAC was accompanied by a decision to allow NIS to continue operating during that period, and added that since that did not happen, the situation does not change too much for Serbia when it comes to NIS, that is under US sanctions.

"We should not forget that today is the 77th day that not a drop of crude oil (has arrived in Serbia) but the entire system is still functioning without any difficulties. However, this situation is unsustainable in the long run. It's good that it can be heard publicly that negotiations on the acquisition of the Russian share in NIS are coming to an end, and we hope that this will happen as soon as possible," he said.

Miskeljin pointed out that the stance towards private property taken by Serbia in this period, especially compared to other countries that faced similar problems, is very important because it sends a good message to current and future investors from all over the world.

"We have to take all of that into account when weighing up what our next move will be. If the negotiations don't come to an end soon, we'll have January 15 and everything that the state has prepared," he added.

According to Miskeljin "the smartest and most painless move by the state in the matter of NIS after January 15 would be to introduce temporary administration and buy shares, even above the market value."

When asked if the Hungarian MOL is a good solution that could satisfy both Serbia, Russia, and the US, Miskeljin said that MOL could be the best solution at the moment because it is the most acceptable to all parties, and because that company cooperates with the Russian side, and is exempt from US sanctions.

(Telegraf Biznis/Tanjug)