BELGRADE – Serbian businessman and politician Bogoljub Karic said Sunday he would not sue the state over the Mobtel case and that he would not run for president in the upcoming elections.

In an appearance on Pink TV, Karic said the sole purpose of his lawsuit filed with the European Court of Human Rights in Strasbourg had been to prove that a part of the former Serbian authorities had been racketeering business people.

Karic ran for President of Serbia in the June 2004 Presidential Election, polling nearly 20% of the vote. His message was on the supremacy of economy over politics, the need to fundamentally transform Serbian society into a modern European democracy and revitalise its economy.