Vucic: I hope both Hungary and UAE will be involved in NIS acquisition

ABU DHABI - Serbian President Aleksandar Vucic said on Wednesday in Abu Dhabi he hoped both Hungary and the UAE would be involved in an acquisition of the Russian stake in the Serbian oil company NIS and added that he believed a solution was not far.

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

Vucic was speaking at a panel on partnership and cooperation in the energy sector, held as part of Abu Dhabi Sustainability Week 2026.

Asked to comment on progress in negotiations about a sale of the Russian stake in the company and on speculation that both Hungary and the UAE were involved in the talks, Vucic responded:

"I cannot say absolutely everything before they send their letter with the term sheets to the OFAC (Office of Foreign Assets Control) in the US, but I hope that both will be involved in that, and I believe we are not far from a possible solution," he said.

Vucic meets with UAE president in Abu Dhabi

ABU DHABI - Serbian President Aleksandar Vucic met with UAE President Mohamed bin Zayed Al Nahyan in Abu Dhabi on Wednesday, noting that Serbia and the UAE shared a common vision of the future that was based on peace, development, innovation and mutual trust.

"We are not connected only by the successful cooperation today, but also by a clear ambition to together build a stable, modern and prosperous future for generations to come. This friendship and this partnership represent a strong foundation for even stronger and closer cooperation in the years ahead, to the benefit of all our citizens," Vucic wrote in a post on his buducnostsrbijeav Instagram account.

He added that the discussion with bin Zayed had addressed advancement of economic cooperation, additional possibilities for transferring technologies and implementation of joint projects.

"I especially highlighted the significance of UAE investments in Serbia, in agriculture, energy and major infrastructure projects, which strongly contribute to development and change the face of our country," Vucic added.

He noted that it was an immense honour and pleasure to meet and speak with the UAE president, one of the most significant world leaders and a sincere friend of Serbia.

"I thanked him for the hospitality and, above all, for the respect and support he is showing to Serbia and our people. Sheikh Mohamed bin Zayed is a statesman from whom I have learned much over the years about responsible and wise state governance that is sustainable over the long term, in the belief that a country's strength does not depend only on natural resources, but primarily on vision and leadership," Vucic added.

He noted that they had also exchanged views on the current regional and global situation, with particular emphasis on preservation of peace and stability.