The US Treasury’s Office of Foreign Assets Control (OFAC) has authorized Hungarian energy group MOL and MOL Serbia to continue preparatory work on a potential acquisition of the Russian-owned stake in Serbia’s NIS until February 28, 2027. The authorization does not permit the ownership transfer itself.
The work includes procedures involving Russian-held securities and approvals from Russian authorities. A separate OFAC decision would be required before MOL could complete the purchase and formally end Russian ownership and control of NIS. Sanctions approval remains the decisive regulatory condition for any transaction transferring the stake.
Negotiations involving Serbia, Hungary and Russia are continuing, with the previously stated objective of reaching an agreement by December 11. The extended authorization gives the parties more time to secure corporate, regulatory and Russian-government approvals, even if that negotiating target slips.
For Serbia, the extension reduces immediate transaction pressure but does not remove uncertainty over NIS, which is strategically important to domestic fuel supply and refining. The deadline provides negotiating space, not certainty that a transaction will occur; whether OFAC ultimately approves the transfer remains unresolved.