# Serbia NIS licence extensions and MOL deal progress

> Live situation record from CLSTR: https://clstr.news/situations/serbia-ramps-up-pressure-on-hungarys-mol-for-a-larger-share-in-the-nis-refinery-deal-as-us-sanctions
> Updated: 2026-08-31T08:33:18.000Z. Sources: 91. Developments: 26.

The U.S. Office of Foreign Assets Control (OFAC) has repeatedly renewed a special operational licence for Naftna Industrija Srbije (NIS) to maintain refining and fuel supply while ownership negotiations continue. By late August 2026, OFAC extended the NIS operating licence until 30 September, alongside an extension for Hungary’s MOL to continue negotiations with Russia’s Gazprom Neft regarding its 56.15% stake.

In late August 2026, Serbian Minister of Mining and Energy Dubravka Đedović Handanović stated that the license extension serves as a “signal of progress” in the complex negotiations to resolve NIS’s ownership structure. The extension allows NIS to continue core activities, including crude oil imports, technical maintenance, and financial settlements. Additionally, OFAC extended the license for the Croatian pipeline operator JANAF to ensure continued oil transport cooperation with NIS.

To meet rising domestic demand, the Pančevo refinery has increased its processing capacity to approximately 13,000 tons per day. For September, NIS plans to target the production of roughly 190,000 tons of euro diesel and 50,000 tons of gasoline. Despite low water levels on the Danube affecting imports, the Minister confirmed that fuel supplies are expected to remain stable through the end of September.

In June 2026, Serbia and MOL signed a shareholder agreement that would take effect upon the successful acquisition of the Russian stake and OFAC approval. Under this pact, Serbia would purchase an additional 5% stake to increase its influence, while MOL would gain management rights and commit to operating the Pančevo refinery at pre-sanction capacities for at least ten years. The final transaction remains contingent on Gazprom Neft’s cooperation and U.S. regulatory clearance.

## Claims

- The new operating license for NIS is valid until September 30. (disputed by 8 sources)
- OFAC extended the operating licence for Naftna Industrija Srbije (NIS) until 28 August. (disputed by 6 sources)
- OFAC extended the operating licence for Naftna Industrija Srbije (NIS) until 28 August 2026. (disputed by 4 sources)
- Vučić said he will likely discuss the NIS deal with Russian President Vladimir Putin and Hungarian Prime Minister Peter Magyar. (corroborated by 8 sources)
- The US Office of Foreign Assets Control (OFAC) issued a new operating license to Naftna Industrija Srbije (NIS). (corroborated by 8 sources)
- The deal involves transferring the Russian ownership stake in NIS to MOL. (corroborated by 7 sources)
- Negotiations between Hungarian company MOL and Gazprom Neft regarding the sale of NIS are in the final stage. (corroborated by 7 sources)
- The licence extension allows NIS to continue processing crude oil and supplying the domestic market. (corroborated by 4 sources)
- MOL Group signed a framework agreement with Gazpromneft to purchase a 56.15% stake in NIS. (corroborated by 3 sources)
- Record‑low water levels on the Danube in July reduced fuel imports to about 25 % of the monthly target. (corroborated by 3 sources)
- The United States imposed sanctions on NIS in October 2025 because of its majority Russian ownership. (corroborated by 3 sources)

## Timeline

### 2026-08-31: NIS operating license extended by US until September 30

The US has extended the operating license for Serbia's NIS until September 30, securing refinery operations and supporting ongoing sale negotiations between Gazprom Neft and MOL.

2 sources. https://clstr.news/cluster/nis-operating-license-extended-by-us-until-september-30-1

### 2026-08-28: NIS receives US OFAC license extension until September 30

US OFAC has extended the operating license for Serbia's NIS until September 30, enabling refinery operations and oil imports while MOL and Gazprom Neft finalize negotiations over NIS ownership.

10 sources. https://clstr.news/cluster/nis-operating-license-extended-by-us-ofac-until-september-30

### 2026-07-31: Serbia's NIS oil refinery licence extended, MOL purchase deal expected soon

OFAC extended NIS’s licence to Aug 28 2026, keeping Serbia’s main refinery running while MOL negotiates to buy the Russian‑owned 56 % stake; President Vučić expects the deal to close soon.

24 sources. https://clstr.news/cluster/serbian-president-vui-expects-nis-ownership-deal-with-mol-and-gazprom-neft-in-coming-days

### 2026-07-07: Serbian President Vučić says NIS‑MOL dispute to be resolved soon

Serbian President Aleksandar Vučić expects a quick resolution to the NIS‑MOL dispute amid US sanctions and ongoing EU accession talks.

2 sources. https://clstr.news/cluster/serbian-president-vui-says-nismol-dispute-to-be-resolved-soon

### 2026-07-02: Serbia's NIS oil company nears solution to US sanctions

Serbia's NIS oil firm is close to a U.S. sanctions solution, with OFAC extending its licence and talks on tariffs underway, while economists warn the issue may wait until the Ukraine war ends.

2 sources. https://clstr.news/cluster/serbias-nis-oil-company-nears-solution-to-us-sanctions

### 2026-06-30: Serbia's NIS granted OFAC license extension as sale of Russian stake stalls

OFAC extended NIS’s operational licence and MOL’s negotiation deadline to 31 July, while Serbia gains extra shares, keeping fuel supply stable amid pending sale of the Russian stake.

11 sources. https://clstr.news/cluster/serbias-nis-oil-refinery-expects-ofac-license-extension-amid-russian-stake-talks

### 2026-06-24: Serbia Extends Russian Gas Supply Deal for Three Months

Serbia's gas chief says a three‑month extension of the Russian gas contract is in force and plans to stretch it to year‑end, warning price spikes if infrastructure projects stall.

5 sources. https://clstr.news/cluster/serbia-extends-threemonth-russian-gas-supply-deal

### 2026-06-20: MOL Group expands operations in Serbia and Libya

Serbian minister Dubravka Đedović said a shareholders’ pact with MOL ends Serbia’s role in NIS talks and hopes Gazprom Neft and MOL will reach a US‑sanctions‑compatible sale, while MOL secured a 20% stake in L​

2 sources. https://clstr.news/cluster/mol-group-expands-operations-in-serbia-and-libya

### 2026-06-17: MOL signs agreement to manage Serbia's NIS amid political criticism

MOL and Serbia signed a shareholder pact for NIS, pending regulator and US approval, while opposition leader Đilas denounces MOL as an unsuitable buyer.

2 sources. https://clstr.news/cluster/mol-signs-agreement-to-manage-serbias-nis-amid-political-criticism

### 2026-06-16: Serbia signs shareholder agreement with Hungary's MOL for future management of NIS

Serbia and Hungary’s MOL signed a shareholder pact to manage NIS, pending MOL’s majority stake and U.S. approval, securing 350,000 t of crude and a ten‑year refinery operation guarantee.

4 sources. https://clstr.news/cluster/serbian-government-and-hungarys-mol-sign-shareholders-agreement-on-nis

### 2026-06-16: U.S. OFAC Extends Operational License for Serbia's NIS as MOL Negotiates Russian Stake

OFAC extended NIS’s licence to 1 July, allowing continued crude processing, as Serbia and Hungary’s MOL sign a shareholders' pact pending purchase of Gaz‑gazpromneft’s 56 % stake.

8 sources. https://clstr.news/cluster/serbias-nis-oil-refinery-license-expected-to-be-extended-by-us-ofak

### 2026-06-12: Serbia and Hungary's MOL close in on NIS ownership deal

Serbia plans to sign a deal with Hungary's MOL for majority control of NIS, pending U.S. sanctions clearance; the agreement could give Serbia an extra 5% stake and keep the Pančevo refinery operating at full‑sM

3 sources. https://clstr.news/cluster/serbia-and-hungarys-mol-close-in-on-nis-ownership-deal

### 2026-06-11: Serbia seeks greater control of NIS as MOL and Gazpromneft negotiations progress

Serbia is negotiating with Hungary's MOL to boost its stake in NIS, pending Gazpromneft's sale and OFAC clearance, while securing full operation of the Pančevo refinery for energy security.

2 sources. https://clstr.news/cluster/serbia-seeks-greater-control-of-nis-as-mol-and-gazpromneft-negotiations-progress

### 2026-06-09: Serbia and MOL agree on increased stake and control in NIS

Serbia and Hungary’s MOL struck a shareholder deal on NIS: if Gazprom’s 56.15% stake is sold to MOL and US OFAC clears it, Belgrade will buy an extra 5% share, gaining greater board rights and securing the Pan‑

13 sources. https://clstr.news/cluster/serbian-energy-minister-dubravka-edovihandanovi-says-nis-sale-talks-progressing

### 2026-06-09: Serbian Energy Minister Dubravka Đedović Handanović faces NIS sale talks and Croatian company controversy

Serbian energy minister Dubravka Đedović Handanović says NIS sale talks are progressing and denies hiding ownership of an inactive Croatian company.

3 sources. https://clstr.news/cluster/serbian-energy-minister-dubravka-edovi-handanovi-faces-nis-sale-talks-and-croatian-company-controver

### 2026-06-07: Mol receives US OFAC license to continue Serbia NIS acquisition talks

Mol received a new US OFAC licence allowing it to continue negotiations to buy a 56% stake in Serbia's Naftna Industrija Srbije (NIS) until June 2026, despite Russian ownership and recent US sanctions.

6 sources. https://clstr.news/cluster/mol-receives-us-ofac-license-to-continue-serbia-nis-acquisition-talks

### 2026-06-07: Hungarian MOL granted US extension to acquire Russian stake in Serbia's NIS

MOL secured a US OFAC extension to June 16 for buying Gazprom Neft’s 56% stake in Serbia’s NIS, pending Serbian approval and aiming to cut Russian influence in the region’s energy market.

4 sources. https://clstr.news/cluster/hungarian-mol-granted-us-extension-to-acquire-russian-stake-in-serbias-nis

### 2026-06-06: MOL secures OFAC license to extend NIS acquisition talks until June 16

MOL received an OFAC licence to keep negotiating the purchase of the Russian majority stake in Serbia's NIS until 16 June, extending a May‑22 approval and allowing finalisation of the deal.

5 sources. https://clstr.news/cluster/mol-secures-ofac-license-extension-for-nis-acquisition-talks

### 2026-06-06: Mol receives US OFAC extension for Serbian NIS oil acquisition

Mol secured a U.S. OFAC extension to negotiate buying a majority stake in Serbia's NIS, a €1‑2 billion oil deal that could reshape Central‑European energy markets.

2 sources. https://clstr.news/cluster/mol-receives-us-ofac-extension-for-serbian-nis-oil-acquisition

### 2026-06-03: Serbia secures three‑month Gazprom gas supply extension

Serbia’s energy minister announced a three‑month Gazprom gas supply extension, ongoing NIS talks with Gazprom Neft and MOL, and a €14.4 billion Serbia 2035 energy investment plan.

9 sources. https://clstr.news/cluster/serbian-energy-minister-says-mol-seeks-30day-ofac-extension-in-nis-talks

### 2026-06-02: Serbian Finance Minister Mali reports progress in MOL talks over NIS Russian stake

Serbian finance minister Siniša Mali says talks with MOL on buying the Russian stake in NIS are progressing, expects a response soon, and highlights fuel‑price stabilisation measures.

2 sources. https://clstr.news/cluster/serbian-finance-minister-mali-reports-progress-in-mol-talks-over-nis-russian-stake

### 2026-05-22: Mol granted two‑week extension to negotiate purchase of Gazpromnyeft stake in Serbia’s NIS

Mol got a two‑week OFAC extension until June 6 to negotiate buying Gazpromnyeft’s stake in Serbia’s NIS, amid sanctions and Serbia’s push for energy security.

4 sources. https://clstr.news/cluster/mol-granted-twoweek-extension-to-negotiate-purchase-of-gazpromnyeft-stake-in-serbias-nis

### 2026-05-20: Serbian President Vučić says MOL oil deal stalls

Serbian President Vučić says MOL negotiations over NIS's Russian stake are faltering and may miss the May 22 OFAC deadline.

2 sources. https://clstr.news/cluster/serbian-president-vui-says-mol-oil-deal-stalls

### 2026-05-14: MOL remains favored over Mimović's higher bid for Serbia's NIS, experts say

Experts say Mimović's €2 bn bid for Serbia's NIS is not a serious alternative to MOL; talks focus on terms with Russian shareholders and Belgrade.

3 sources. https://clstr.news/cluster/hungarian-expert-deems-mimovi-bid-a-weak-rival-to-mol-for-serbias-nis-oil-assets

### 2026-05-12: Serbia intensifies pressure on Hungary's MOL in NIS negotiations, eyes fallback options

Serbia demands a larger NIS stake from MOL and readies plan B/C options as the OFAC deadline approaches.

4 sources. https://clstr.news/cluster/serbia-intensifies-pressure-on-hungarys-mol-in-nis-negotiations-eyes-fallback-options

### 2026-05-05: Serbia-MOL talks progress on NIS refinery deal

Serbia and MOL say NIS talks are advancing, aiming for a deal by mid‑May after U.S. approval.

25 sources. https://clstr.news/cluster/serbia-mol-talks-progress-on-nis-refinery-deal

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Cite as: Serbia NIS licence extensions and MOL deal progress. CLSTR, https://clstr.news/situations/serbia-ramps-up-pressure-on-hungarys-mol-for-a-larger-share-in-the-nis-refinery-deal-as-us-sanctions