Basta: Sale of NIS Fraud of the Century, Revision at International Courts Needed Urgently

The energy agreement signed between the Republic of Serbia and the Russian Federation in 2008 has caused great damage in terms of economy and energy to Serbia, due to which an urgent revision in front of the competent international courts is needed, so that Serbia would be compensated for the damage and so that it would bring back NIS to its ownership, estimated Rada Basta, the president of the “Evropski put” – Basta movement and the former minister of economy. Basta points out that the then state authorities made an agreement that is very damaging to the Republic of Serbia, according to which Gazprom bought NIS for EUR 40 million with the obligation of the construction of the “South Stream” gas pipeline, without any legal and financial guarantees for the gas pipeline.

– The decision on the sale and approving the agreement was adopted at a telephone session of the government, which shows the irresponsibility of the then state authorities, which somebody will have to answer for some day for sure. NIS, along with EPS, is the backbone of the Serbian economy and one of the key things for the energy security of the Republic of Serbia.

The property of NIS, along with its oil-based business and rights to use oil sources that NIS had (such as Angola, for example) at that moment had a market value several times higher than the agreed sales and purchase price, Basta says.

This, Basta says, did immeasurable damage to the Republic of Serbia, and what’s especially egregious is that, after the Russian side took over the company, NIS borrowed money in order to secure funds for investments (an obligation from the agreement for the purpose of modernization), leading to NIS’s debts with unfavorable interests through a pure financial engineering of Gazprom.

– In other words, whether consciously or not, the then authorities of Serbia gave away a large part of the energy sector to Gazprom and thereby jeopardized the national and vital interests of the Republic of Serbia. I therefore invite the current Government of Serbia, led by prime minister Ana Brnabic, to initiate, without delay, a revision of the agreement before the competent international courts and protect the interests of Serbia. It is scandalous and irresponsible that the Government of Serbia has not done so in all these years of their rule, because it is clear to everybody that there has been manipulation and failure to meet the agreement on the side of our brotherly Russian Federation (Gazprom) – Basta notes and adds that “the silence of pro-Russian marionette parties such as SPS, Dveri, Zavetnici and DSS is unforgivable, because Serbia is supposed to be first for them.”

– The damage caused is great and while I was still minister of economy, I opened that question, but I encountered of wall of silence and ignoring. What I can promise is that, if the citizens give me their trust at the next election and I gain power through the Evropski put movement, one of the priorities will be to initiate a revision of the agreement and return NIS to state ownership, including procedures against those responsible – Basta claims.

Vlada Republike Srbije

Ministarstvo privrede Republike Srbije

NIS a.d. Novi Sad

Elektroprivreda Srbije ad Beograd

Pokret Evropski put

EPS

Gazporom

South Stream

Evropski put Basta movement

Rade Basta

Ana Brnabić

energy agreement