The Hungarian company MOL received an official license from the Office of Foreign Assets Control of the US Department of the Treasury (OFAC) to continue negotiations on the purchase of the Russian majority stake in Oil Industry of Serbia ad (NIS) until June 16, MOL announced on the Budapest Stock Exchange.
After the extension of the license approved on May 22, negotiations have progressed significantly, and the current additional extension of the license enables the finalization of the transaction documentation, stated MOL, reports RTS.
On the basis of the previously issued OFAK license, MOL was authorized to negotiate the purchase of NIS until today, ie until June 6.
On June 3, the Hungarian company MOL asked OFAK for an additional 30 days to complete negotiations on the purchase of the Russian stake in NIS.
The NIS company previously received a special license from the US Ministry of Finance, which allows the company to continue operational activities, ie oil processing, ending on June 16.
This license enables the maintenance of operations, contracts and other agreements involving NIS or its operational subsidiaries, including refinery processing, import of crude oil, carrying out transactions necessary for security of supply and technical maintenance, as well as financial settlements.
On January 19, MOL Group announced that it had signed the main provisions of a binding framework agreement with Gazpromneft on the purchase of a 56,15 percent stake in the Serbian company.
The group, it was stated at the time, is also in negotiations with the national oil company of the United Arab Emirates - ADNOK about its entry into the ownership structure of NIS as a minority shareholder.
The US imposed sanctions on NIS on October 9, 2025 due to its majority Russian ownership.
Source: RTS
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