US Extends Deadline for MOL's Acquisition Talks of Serbia's NIS

BUDAPEST, October 1. /TASS/. The United States has granted a one-month extension to finalize talks on Hungarian energy group MOL's acquisition of a controlling stake in Naftna Industrija Srbije (NIS), which is under US sanctions alongside its majority owner, Gazprom Neft. MOL announced that the negotiation deadline has been extended until October 30.

"On September 30, 2026, MOL received an official license from the Office of Foreign Assets Control of the U.S. Department of the Treasury ("OFAC") to continue negotiations on the purchase of a majority shareholding of Naftna Industrija Srbije a.d. ("NIS") until October 30, 2026," the company said in a statement on the Budapest Stock Exchange website.

The day before, Serbia’s Acting Minister of Mining and Energy Dubravka Dedovic Handanovic stated that OFAC had extended NIS's operating license until October 30.

MOL previously noted that the talks were progressing and that it expected to finalize the transaction documentation shortly. Meanwhile, Belgrade indicated that all outstanding issues had been resolved on its part.

On January 19, Gazprom and MOL announced a letter of intent for the stake sale. The Serbian government previously announced plans to boost its own stake by 5% to maintain veto power over certain shareholder decisions. MOL has also held talks with the UAE’s ADNOC, which expressed interest in becoming a minority shareholder.

The divestment comes as NIS’s owners face severe US pressure. In January 2025, the US Treasury blacklisted the Serbian company alongside its majority shareholder, Gazprom Neft. Following several delays, the restrictions took effect on October 9. On November 11, Serbia’s Energy Ministry announced that NIS's Russian owners had notified Washington of their readiness to cede control to a third party.