Published by Global Banking & Finance Review®
Posted on March 24, 2026
1 min readLast updated: March 24, 2026
Add as preferred source on GoogleHungary’s MOL has obtained U.S. approval to continue negotiations to acquire a majority stake in Serbia’s NIS, extending the deadline to May 22. OFAC had previously required divestment of Russian-held shares by March 24.
BUDAPEST, March 24 (Reuters) - Hungary's MOL said it received U.S. approval to continue negotiations regarding the acquisition of a majority stake in Serbia's NIS refinery, with the deadline for negotiations extended until May 22.
In December, the U.S. Treasury's Office of Foreign Assets Control (OFAC) gave NIS until March 24 to negotiate the divestment of the stakes held by Russian firms Gazprom and Gazprom Neft, at 44.9% and 11.3% respectively.
In January, MOL said it had signed a binding agreement with Russian companies to buy their stakes in NIS and the United Arab Emirates' ADNOC would be a minority stakeholder.
(Reporting by Anita Komuves; writing by Anna Wlodarczak-Semczuk;)
MOL received U.S. approval to continue negotiations for acquiring a majority stake in Serbia's NIS refinery.
The deadline for negotiations has been extended until May 22.
Russian firms Gazprom and Gazprom Neft are divesting their stakes of 44.9% and 11.3%, respectively.
The United Arab Emirates' ADNOC will be a minority stakeholder.
The U.S. Treasury's Office of Foreign Assets Control (OFAC) provided the initial approval.
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