MOL secures OFAC license to extend NIS acquisition talks until June 16

Hungarian oil company MOL obtained a formal licence from the U.S. Treasury’s Office of Foreign Assets Control (OFAC) that permits it to continue negotiations to purchase the Russian‑majority stake in Serbia’s Naftna Industrija Srbije (NIS) until 16 June. The licence, originally extended on 22 May, was further prolonged after MOL requested an additional 30‑day period on 3 June, enabling the finalisation of transaction documents.

NIS itself holds a separate U.S. special licence that allows the Serbian firm to maintain its operational activities—including refining, crude‑oil imports, supply‑security transactions, technical maintenance and financial settlements—through 16 June. MOL previously announced a framework agreement with Gazpromnefte to acquire a 56.15 % share of NIS and has also been in talks with the United Arab Emirates’ ADNOC for a minority position. The United States imposed sanctions on NIS on 9 October 2025 because of its Russian ownership.