The Minister of Mining and Energy, Dubravka Đedović Handanović, stated that it is in the interest of both the American and Russian sides to find a solution for the Serbian Oil Industry (NIS), especially after the arrival of Donald Trump. She added that Serbia would seek an extension for the completion of all operations related to the exit of Russian capital from this company.
Minister Đedović Handanović emphasized that it is important for citizens and businesses to know that there is no reason for concern and assured that the Serbian government will find the best solution for NIS.
“These sanctions were not needed for us, nor did Serbia do anything to contribute to them, except for pursuing its principled policies. However, these sanctions are comprehensive when it comes to the Russian energy sector, so they are not explicitly related to Serbia, although we have been affected,” the minister said in an interview with TV Pink.
She pointed out that the deadline for the full withdrawal of Russian capital and interests from NIS has been set for February 25 and added that the Serbian government has already held discussions with both sides. “We are working diligently, we have spoken with both the American and Russian sides, and there are still consultations to be held. We have several weeks ahead of us,” she stated.
The minister also emphasized that both Russian and American partners would need to talk, as it is in both of their interests, especially with the arrival of the Trump administration, to find a solution.
“Trump has said that he wants to be a peacemaker, so that needs to be put into a broader context. This will likely take more time, but we will work on it and seek an extension if the American administration is open to it,” the minister added.
When asked if there have been any clarifications from the U.S. regarding the sanctions on NIS, Đedović Handanović explained that the U.S. is sticking to its policy of reducing the revenue that the Russian side receives from the energy sector and its operations in different countries, including Serbia.
“So, in this context, that is the only clarification. We are caught in the middle between two major powers, but we have assured both sides that Serbia will protect the interests of its citizens, and that is our priority,” the minister concluded.
She mentioned that it is still too early to discuss options for NIS and that the discussions between the two sides must begin first. She highlighted that with the arrival of the new administration, it will take some time to assess the situation and begin the talks.
She added that Russia is expected to present a comprehensive proposal, and Serbia will wait and prepare for different scenarios.
When asked if Serbia has already felt the effects of the sanctions on NIS, Đedović Handanović stated that the effects are already being felt, primarily through price increases in the market in the last two to three weeks, as the sanctions had been announced.
“The president clearly announced this before the New Year, so the market had those indications, which led to price increases in Serbia due to the global market price hikes. Prices have now stabilized, and I hope that by Friday, they will decrease. We cannot influence global oil prices, but we can monitor the market and stay in communication with all oil companies,” the minister explained, stressing the importance of ensuring that the Pančevo refinery continues to operate without interruption.
She also emphasized that it is crucial for all NIS partners to respect the transition period, adding that NIS will remain one of the most important companies in Serbia.
“We will absolutely protect its position, and all partners need to be patient and not rush ahead but give the government the time it needs to find solutions,” she concluded.