Djedovic Handanovic: We are not satisfied with revised MOL proposal, talks to continue

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic said a revised proposal by Hungary's MOL about its acquisition of a Russian-majority stake in the Serbian oil company NIS had arrived on late Tuesday but that the Serbian side was still not satisfied with the solutions offered.

Djedovic Handanovic said the operations of the Pancevo oil refinery and the share of its products on the Serbian market represented the main stumbling block in talks with MOL.

"We will not jeopardise the security of our supply or the impact the refinery's operations have on the economy and businesses. The talks will be continued today and tomorrow. We want to reach compromise, but not at all costs," an official statement quoted her as saying.

Since October 9, 2025, NIS has been under US sanctions due to its Russian-majority ownership.

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

Djedovic Handanovic said negotiations between MOL and Gazprom neft continued simultaneously and that the completion of those talks was important, too, for the US Office of Foreign Assets Control to give its opinion and make a final decision.

Djedovic Handanovic, Mitsotakis discuss new gas pipelines between Serbia, Greece

ATHENS - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic met with Greek PM Kyriakos Mitsotakis at an energy transition summit on Wednesday to discuss the importance of building new natural gas corridors that would connect Serbia and Greece via North Macedonia and open a new natural gas supply route.

"During a Financial Times energy transition summit in Greece, I had an opportunity to exchange views with Greek PM Kyriakos Mitsotakis on the importance of building new gas corridors that will connect Serbia and Greece via North Macedonia and open a new natural gas supply route to bolster the region's energy security," Djedovic Handanovic posted on Instagram.

I also highlighted the importance of connecting and integrating Serbia and the Balkans with the European electricity market, and I pointed out that the carbon emissions tax introduced by the EU has a negative effect on that process, to the direct detriment to Greece, which is why concerted efforts in Brussels are necessary," she added.

She noted that that would boost energy security and help reduce electricity prices across southeastern Europe.

"To achieve this, we need to continue to invest in strengthening the transmission grid and interconnectivity capacities, as well as to build transmission lines and new energy corridors that will further connect the entire region, which I will continue to discuss in the coming days with ministers from the region during a ministerial summit," the minister posted.

Djedovic Handanovic took the opportunity to thank Mitsotakis for Greece's support for Serbia on all issues in national and state interest.