Former Serbian ex-minister probed over energy firm deal

- Former Serbian Energy Minister Nikola Nikolic recently testified before a parliamentary committee probing dealings between the state energy monopoly and the London-based Energy Financing Trade (EFT).

Nikolic, minister until March this year, accused the Serbian Power Company (EPS) of repeatedly providing work for EFT, on terms that ended up costing it money.

Nikolic mentioned one contract in particular dated January 2000, which he said was given to EFT but cost EPS 1m dollars.

The committee was established recently, at the proposal of the Serbian Radical Party [SRS]. Its chairman, Radical Party deputy leader Aleksandar Vucic, has said he intends calling 48 people to give evidence, including representatives of EFT.

The London-based company is headed by Vuk Hamovic, who said recently he is ready to testify if called.

Hamovic accused the committee of having already found him guilty, and insisted the accusations were based on fabricated and forged information.

He noted that the governor of the national bank at the time, Kori Udovicki, and the then finance minister Bozidar Djelic, had also made accusations but had been unable to prove them.

"They came forward with a bunch of notes, a bunch of conclusions based on nothing. But at least they stopped there. Mr. Vucic goes further, the Radicals go further," Hamovic said.

The EFT chief insisted his company does not always win the tenders it goes for, but the ones it does are awarded "because we offer the best terms".