Mol receives US OFAC license to continue Serbia NIS acquisition talks

Mol Nyrt. was granted a new licence by the U.S. Treasury’s Office of Foreign Assets Control, allowing the company to keep negotiating the purchase of a majority stake in Serbia’s oil producer Naftna Industrija Srbije (NIS) until 16 June 2026. The authorisation follows a previous licence that expired, giving Mol extra time to finalise the transaction documentation.

NIS is currently 56.15% owned by Russian Gazpromneft, which itself holds 44.9% of NIS through its subsidiary, while Gazprom holds an additional 11.3%. The Serbian government retains about 30% and the remainder is held by small shareholders. The United States imposed sanctions on NIS in October 2025 because of the Russian ownership. Mol announced in January that it had reached a binding framework agreement with Gazpromneft for the acquisition.

The new licence enables the Hungarian oil group to proceed with the deal despite the sanctions environment.