Hungary's MOL Group ready to double oil derivatives supplies to Serbia

BELGRADE - Hungary's MOL Group is ready to help resolve the problem posed by the announced US sanctions on Serbia's majority Russian-owned oil company NIS and double its oil derivatives supplies to Serbia.

"Serbia can always count on MOL Group, we are ready to increase the supplies according to our capabilities. We can even double the quantity of fuels supplied to Serbia," Csaba Zsoter, managing director of MOL Group's Fuels branch, told the RTS on Wednesday.

He said MOL Group had already introduced changes to the logistics process to be able to react quickly if necessary.

"Also, we are cooperating with Hungarian authorities to facilitate the passage through the border crossing and prevent delays," he said.

He noted that active involvement and support from decision-makers in Serbia was also crucial for maintaining stable fuel supplies.

Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic and Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto met in Belgrade recently to discuss the issue and Serbian President Aleksandar Vucic and Hungarian PM Viktor Orban confirmed the positions of the two sides at a meeting in Budapest on Friday.