Croatia expresses readiness to buy NIS shares

Croatian Economy Minister Ante Susnjar said that Croatia was ready to enter the ownership structure of Naftna industrija Srbije (NIS), but not to dominate the retail market in Serbia, “which would significantly facilitate business for both parties.”

– We extend our hand, if that is the solution, we are ready for that option as well – said Susnjar, commenting on the introduction of US sanctions on NIS, as reported by HRT.

He pointed out that, in that way, the continuity and business interests of the Jadranski naftovod, which had been closely linked to NIS for 40 years, would be ensured.

– That would make it easier for both us and Serbia – added the Croatian minister, who comes from the right-wing Homeland Movement, a minority partner in the Croatian Democratic Union (HDZ) government of Prime Minister Andrej Plenkovic.

He also added that the refinery in Pancevo supplied 20% of the derivatives market in Bosnia and Herzegovina.

– This is an additional challenge for BiH, and by the end of the month we expect the modernization of the Rijeka refinery to be completed, which would increase capacity and in that way we could help BiH, and partly Serbia – added Susnjar, as reported by HRT.

He rejected the assessment that the developments with NIS and the sanctions threatened Croatia’s position in negotiations with MOL on supplying Hungary and Slovakia with sufficient quantities of oil.

Susjar said that Croatia was ready to deliver sufficient quantities of oil to Hungary, Slovakia and Serbia when circumstances and geopolitical conditions allowed for it.

NIS a.d. Novi Sad

NIS a.d. Petrol Rafinerija nafte Pančevo

JANAF d.d. Zagreb

Naftna industrija Srbije ad Novi Sad

NIS

Jadranski naftovod

Janaf

Pančevo Oil Refinery

Ante Šušnjar

sanctions on NIS

sale of NIS