Provisional agreement reached to sell Russian-owned Serbian refinery to Hungarian company
20 January 2026
Nenad Cavoski/Shutterstock.comA provisional agreement has been reached to sell Serbia’s NIS oil refinery, which is owned by Gazpromneft, to the Hungarian Group. The US designated NIS in January 2025 because it was a subsidiary of Gazpromneft. The company was granted several OFAC licenses to continue operations. The licences expired in October 2025.
The Serbian Energy Ministry said that talks were underway between NIS and Mol and that it expects the final purchase to be agreed. The minister said that after the owners agree with MOL on all important aspects of the transaction, a request will be sent to the US administration for a license extension.
