Hungary wants to take over after sanctions

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Hungary wants to take over after sanctions
Photo: Evan Vucci/AP/TT

Hungary is ready to take over ownership of Serbia's only oil refinery, Prime Minister Viktor Orbán's chief of staff Gergely Gulyás said.

The talks are ongoing right now, he tells the Bloomberg news agency, adding that it could be a good opportunity for Hungary's largest refinery company, Mol Nyrt.

When Serbian President Aleksandar Vucic met with the Prime Minister of Hungary on Thursday, he said that it is up to the Russian owners to decide who they sell to.

Serbia's only oil refinery is owned by the Serbian company NIS, which is in turn 45 percent owned by the Russian company Gazprom Neft. The Russian ownership means that the refinery, which is important for the entire country's fuel supply, has difficulty operating after US sanctions against several Russian companies.

Earlier in November, Bulgaria decided to take over the Russian company Lukoil's refinery in eastern Bulgaria and leave it under state control. Romania is also looking at similar solutions.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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