According to Serbian Economist, Croatia has expressed its readiness to consider buying Serbian oil and gas company Naftna Industrija Srbije (NIS) if it will help to settle the consequences of US sanctions against the company, Croatian Economy Minister Ante Šušnjar said.
“Our hand is outstretched – if this is the solution, we are ready for this option as well,” the minister said, commenting on the situation after the US sanctions against NIS came into force.
According to Šušnjar, if such a scenario is realized, Croatia would guarantee the stability of the Jadranski naftovod (JANAF) oil pipeline, which has been cooperating with NIS for more than 40 years, without interfering in Serbia’s retail fuel market.
“This would simplify the situation both for us and for Serbia,” emphasized the minister, who represents the Domovinski pokret party, which is in coalition with Prime Minister Andrej Plenkovic’s ruling HDZ party.
The minister noted that the NIS Pančevo refinery provides up to 20% of Bosnia and Herzegovina’s oil products market, and the current sanctions situation poses additional challenges for the entire region.
“By the end of the month, we will complete the modernization of the refinery in Rijeka, which will allow us to increase refining capacity and thus help Bosnia and Herzegovina, and partially Serbia,” Šušnjar said.
He also emphasized that sanctions against NIS will not affect Croatia’s position in negotiations with Hungarian MOL on oil supplies. According to him, the country is ready to provide sufficient volumes of fuel for Hungary, Slovakia and Serbia when it is possible in terms of geopolitical conditions.
Experts note that Croatia’s possible participation in the fate of NIS could be a compromise option to stabilize the energy market in the Balkans and ensure uninterrupted operation of the JANAF oil pipeline, which is a key link of oil supplies to the region.
