Hungarian oil group MOL said on Monday ?talks about the purchase of a Russian stake ?in Serbian oil group NIS are ongoing, in line with a framework agreement signed earlier. MOL signed an agreement on January 19 ?to buy a combined.
Gazprom Neft and Gazprom ?56% stake in NIS, which is under U.S. ?sanctions. The U.S. Office of Foreign Assets Control (OFAC) ?gave the companies until May 22 to complete the ?sale.
"OFAC had extended MOL's negotiations licence until May 22 so talks about the transaction are ongoing in line with the framework agreement ?signed earlier," MOL said in an emailed response ?to Reuters questions.
"In order to close the transaction, in addition to ?signing ?the contract, further licences and the approval of OFAC and the Serbian government authorities will also be needed," it said.
MOL said it was complying with all regulations ?and conditions, and ?the goal ?of the acquisition was to strengthen long-term supply security for Serbia and the region.
OFAC ?imposed sanctions on NIS in October as ?part ?of wider measures targeting Russia's energy sector over the war in Ukraine, and demanded the divestment of Gazprom Neft ?and ?Gazprom, its Russian majority owners.
Earlier this ?month, NIS secured a 60-day sanctions waiver from the United States ?until June 16.
(Reuters, April 27, 2026)
