When Đukanović first emerged on the political scene, he was a close ally of Slobodan Milošević during the anti-bureaucratic revolution (1988–1989) and the dissolution of SFR Yugoslavia (1991–1992). His cabinet actively participated in the siege of Dubrovnik (1991–1992). Đukanović supported Momir Bulatović's agreement on Lord Carrington's terms, which resulted in the 1992 Montenegrin independence referendum, where voters decided to remain in FR Yugoslavia. In 1996, however, Đukanović distanced himself from Milošević and the federal government, abandoning the traditional joint Serbian and Montenegrin vision in favour of Montenegrin nationalism, which supported the state independence and a separate Montenegrin identity. That led to the division of the party and the split of the Bulatović's pro-unionist faction. Shortly afterward, Đukanović defeated Bulatović in the 1997 presidential election by a thin margin. In 1999, he negotiated with western countries in an attempt to limit airstrikes in Montenegro during the NATO bombing of Yugoslavia, while later Đukanović oversaw the implementation of the Deutsche Mark as the new currency in Montenegro, replacing the Yugoslav dinar.