Hungary's Strategic Bid for Serbia's NIS Refinery Amid Sanctions

Hungary might purchase a stake in Serbia's Russian-owned NIS refinery under U.S. sanctions. Talks involve ensuring continuous crude supply from Russia, despite EU's sanctions. Hungary's interest aligns with its strategic ties to Russia, aiming to stabilize energy resources across the region.

Hungary is in discussions to potentially acquire a stake in Serbia's NIS refinery, currently owned by Russian entities and under U.S. sanctions.

With sanctions disrupting oil supplies through Croatia's JANAF pipeline, Serbia faces the looming shutdown of its sole oil refinery, unless a solution is found.

Hungary's Prime Minister Viktor Orban, amid strategic dialogues with President Aleksandar Vucic, seeks to secure Russian crude and gas supplies, potentially stabilizing oil flow to Serbia.

(With inputs from agencies.)