Dubravka Đedović Handanović, Serbia’s Minister of Mining and Energy, emphasized that Serbia must prepare for the worst-case scenario regarding the potential expiration of the postponement of U.S. sanctions on NIS, a key Serbian oil company. She expressed hope that the new U.S. administration would show understanding for Serbia’s oil sector, which plays a crucial role in the country’s daily operations. The minister noted that the sanctions on NIS, imposed by the previous U.S. administration, were part of a broader geopolitical strategy against Russia’s energy sector.
Đedović Handanović highlighted that Serbia has increased its oil reserves by over 50% in the last two years and stressed the importance of active dialogue with the U.S. to improve bilateral relations, especially in the energy sector. She mentioned that Serbia signed a strategic cooperation agreement with the U.S. last year, focusing on energy, which entered into force in both countries.
During the current period of suspension of sanctions, Đedović Handanović emphasized that NIS must continue to operate without disruptions. Serbia is also working to expand its logistics capacities for the import of larger oil quantities, ensuring energy security. The country currently has enough oil derivatives to cover 90-100 days of reserves.
In terms of regional cooperation, Đedović Handanović noted that Serbia’s partnership with Hungary is critical, particularly in terms of gas supply through the Balkan Stream pipeline. Serbia is also working on expanding gas storage facilities in Hungary and building a new oil pipeline connecting Serbia and Hungary, which would increase the country’s energy security.
The minister also expects a further reduction in fuel prices due to falling global crude oil prices. On the lithium project, she stated that it depends on a thorough assessment of economic and environmental conditions, with support from the EU being crucial.
Finally, Đedović Handanović highlighted ongoing energy projects in Serbia, including the completion of a wind park in Kostolac, the construction of the first state-owned solar power plant, and investments in the energy grid to ensure a stable and secure power supply.
