Djedovic Handanovic: Serbia's talks with Hungary about NIS making progress

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic said on Friday Serbia's talks with Hungary about an acquisition of a Russian majority stake in the Serbian oil company NIS by Hungary's MOL were making progress and that the details of an agreement among the shareholders were being harmonised, and added that MOL had held talks with Gazprom neft in Russia.

"Our talks with Hungary are making progress, we are currently harmonising the details of an agreement among the shareholders in order to ensure maximum protection for Serbian state interests, NIS being one of the most important companies in the country. I would also like to remind you that we also want to increase our stake by five per cent, but that will be possible only after the completion of talks between Gazprom neft and MOL. Of course, there is always a political dimension of negotiations, which is difficult to predict," Djedovic Handanovic said at a meeting with an International Monetary Fund (IMF) mission, headed by Annette Kyobe.

"Talks between the seller and the buyer were held in Russia at the weekend, and we maintain constant communication with the seller, the buyer and the US administration," Djedovic Handanovic said.

NIS is under US sanctions due to the Russian majority ownership.

A licence for talks on potential changes to the company's ownership structure has been extended until May 22, 2026.

In a statement, the Ministry of Mining and Energy said energy security and the situation in the oil, gas and electricity sectors had been the main topics of Djedovic Handanovic's meeting with the IMF mission.

The mission is in Belgrade for a third review under a Policy Coordination Instrument (PCI) arrangement.