Djedovic Handanovic: Serbia not satisfied with MOL proposal, remains committed to talks

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic said on Thursday the Serbian side was not satisfied with a proposal received from Hungary's MOL earlier in the day, but that Serbia remained committed to continuing talks with MOL on its acquisition of a Russian majority stake in the Serbian oil company NIS and to seeking compromise, but not at all costs.

"We are, and we will be, defending the interests of our country," Djedovic Handanovic said in a video posted on Instagram after hours-long talks with MOL representatives.

She said the proposal Serbia was not satisfied with had to do with the Pancevo oil refinery.

"It has to do with red lines we have said Serbia will not cross - above all, with future operations of the Pancevo refinery, crude processing capacities and ways to ensure compliance with agreed levels, and that processing at the refinery - oil derivatives - has a certain share of the Serbian market, above all, for the sake of the citizens of Serbia and the Serbian economy," Djedovic Handanovic said.

This is very important because NIS is a strategic, dominant company in the oil sector, she said.

"What remains for us to do is to wait for a new MOL proposal, and for it to arrive as soon as possible," Djedovic Handanovic added.

"Serbia's interest is clear - protecting the citizens, the country and the Serbian economy," she noted.