Hungary to increase oil supplies to Serbia due to US sanctions

Hungarian energy corporation MOL will increase oil supplies to Serbia due to US sanctions. This was announced on October 10 by Hungarian Minister of Foreign Affairs and Foreign Economic Relations Peter Szijjarto.

"Our Serbian friends can count on an increase in supplies from MOL," Tanjug quoted him as saying.

According to him, MOL plays an important role in the supply of oil and fuel to Serbia. He also added that this increase will not be able to fully compensate for the lack of supplies from Croatia.

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The operator of the Adriatic Pipeline (JANAF) in Croatia has suspended cooperation with the Oil Industry of Serbia (NIS) due to US sanctions.

Serbian President Alexander noted in early January that in the event of restrictions from the American side, the state would be ready to buy out the Russian stake in NIS. According to him, if the company's value is €1 billion, then the share can be redeemed for about €600 million.

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