Russians and Hungarians reach agreement about NIS! Minister Djedovic Handanovic makes urgent statement

Photo: Telegraf

Minister of Mining and Energy of Serbia Dubravka Djedovic Handanovic said on Monday that agreement has been reached between the Russian and Hungarian sides, which should lead to a favorable outcome in the process of transformation of the ownership structure of Petroleum Industry of Serbia, NIS, a company that is under US sanctions.

Recommended

"MOL and Gazprom Neft have agreed the basic terms of the future acquisition contract for NIS, which will be sent to the American administration to decide about, Serbia has succeeded to have its stake in the ownership increased by five percent," said the minister.

Photo: TANJUG/ DEJAN ZIVANCEVIC/ bg

This statement comes after months of intense talks and uncertainty about the future of NIS, which was made additionally intense by geopolitical pressure, sanctions against Russian energy companies and the growing interest of the European Union in the ownership and management structures of strategic energy systems in the region.

"This is something that was the demand of the American administration and as such it will be sent to the American administration for to decide about. What is important is that Serbia managed to improve its position in those negotiations compared to 2008 when we (the state) had under 30 percent in (NIS) ownership, and that is to increase our stake by five percent in the future and reach the number of shares that will allow us greater decision-making rights in the Shareholders' Assembly," said Djedovic Handanovic.

Photo: Shutterstock

When it comes to partners from the United Arab Emirates, Djedovic Handanovic pointed out that their participation in the future acquisition agreement is also expected, which would further diversify the ownership structure of NIS.

(Telegraf Biznis)