Djedovic Handanovic: Time running out, but we will do everything to protect citizens

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic said on Monday talks with Hungary's MOL on its acquisition of a Russian-majority stake in the Serbian oil company NIS were complex but that the goal was to reach compromise and that Serbia's demands remained the same.

"Our demands are clear and remain unchanged. We also aspire to increase our stake in NIS by 5 pct, which means greater influence on strategic decisions and the ability to block decisions that are not in state interest," Djedovic Handanovic said at the opening of the Belgrade Energy Forum.

"Our time is running out, but Serbia remains committed to finding a long-term solution and, as in the past, it will do everything to protect the interests of our country, citizens and businesses, as well as to ensure the security of supplies to our market," she said.

She noted that Gazprom neft and MOL had 11 more days to submit documentation on purchase and sales agreements to the US Office of Foreign Assets Control.

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

Djedovic Handanovic said that, through no fault of its own, Serbia had faced the sanctions and was the hardest hit by them.

She also said Serbia would continue to invest in the oil, gas and electricity sectors while simultaneously developing renewable energy sources and considering nuclear power as an option for the future.

She said Serbia had corrected a historic mistake by allowing a debate on nuclear power and launching the first phase of developing a nuclear programme.

"If the Slovenians, Bulgarians, Romanians and Hungarians can have nuclear power plants, why should not we, too, consider that option?" Djedovic Handanovic said.