"We did all we could": Minister reveals what is really happening behind the scenes as fate of NIS is decided

Photo: Instagram/dubravka.djedovic

Minister of Mining and Energy Dubravka Djedovic Handanovic stated last evening that the issue of Petroleum Industry of Serbia, NIS, is one of the most important in the domestic energy sector and assessed that the geopolitical position of Serbia when it comes to that company is very complex, but that the state is striving to reach a sustainable solution, without damaging relations with any country.

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The minister pointed out that the NIS issue is primarily geopolitical, but of national importance for Serbia.

"We did all we could to protect our position. Let's not forget that NIS was sold in 2008, but I don't want to talk about what could have been different then, because each period of time carries its own burden. Regardless of everything, the Russian owners invested a lot in the company, the (Pancevo) refinery is in very good condition and operates in a stable manner," Djedovic Handanovic told TV Prva.

According to her, over the past year and a half, the state has tried to protect and improve its position regarding the situation around NIS, while maintaining good relations with all partners.

"We have our national company, which, unfortunately, has been under US sanctions for 18 months. However, we managed this successfully, which means that we planned well three or four years ago, both in terms of reserves and additional quantities of diesel, gasoline and kerosene, as well as building state-owned warehouses," said Djedovic Handanovic.

US Treasury Department's Office of Foreign Assets Control (OFAC) last Friday extended the operating license for NIS until August 28, as well as the deadline for MOL to continue negotiations on the purchase of the Russian majority stake in NIS.

Previously issued licenses were valid until July 31.

On October 9, 2025, the US imposed sanctions against Petroleum Industry of Serbia because of majority Russian ownership.

(Telegraf Biznis/Tanjug)