Serbia and Hungary's MOL close in on NIS ownership deal

President Aleksandar Vučić said Serbia aims to sign a shareholders' agreement with the Hungarian oil group MOL by Tuesday, adding, “Ja verujem da ćemo mi sa Mađarima svaki detalj da usaglasimo i verujemo da ćemo da potpišemo.” The agreement would finalize MOL’s purchase of a majority stake in Nafta Industrija Srbije (NIS), which remains subject to U.S. sanctions administered by OFAC.

Serbian Energy Minister Dubravka Đedović Handanović noted that the two sides have resolved outstanding issues and that “sada je sve u rukama ruske i mađarske strane,” meaning the final outcome depends on a deal with the Russian owners and U.S. approval.

If the transaction receives OFAC clearance, Serbia would acquire an additional five percent of NIS, granting it greater influence over key decisions.

The arrangement also secures continued operation of the Pančevo refinery at pre‑sanction capacity, a factor the Serbian side stressed as essential for domestic fuel supply and price stability.