Published by Global Banking and Finance Review
Posted on December 25, 2025
BELGRADE, Dec 25 (Reuters) - Serbia supports talks over the sale of a majority stake in the country's sanctioned NIS oil company currently taking place between its Russian owners and Hungary's MOL, the Tanjug news agency reported on Thursday, citing Serbia's energy minister.
"The Hungarian government supported those talks, and we, as the government ... will also provide support to find a solution for the removal of sanctions," Tanjug quoted Dubravka Djedovic Handanovic as saying.
Russia's Gazprom has an 11.3% stake in NIS, while its sanctioned oil unit Gazprom Neft holds 44.9%. The Serbian government has 29.9%, with the remainder held by small shareholders and employees.
Serbian President Aleksandar Vucic said on Tuesday that MOL was in talks with the Russian shareholders over the possible stake sale.
On Wednesday, the U.S. Office of Foreign Assets Control granted NIS until March 24 to negotiate the sale of its Russian owner's stake, but did not approve an operating licence that would allow it to buy and process crude oil.
The OFAC imposed sanctions on NIS in October, as part of broader measures against Russia's energy sector, following a series of waivers granted since January.
The sanctions have halted crude supplies via Croatia's JANAF pipeline, shutting down production at the NIS refinery in the Serbian town of Pancevo, the only such facility in the Balkan country.
(Aleksandar Vasovic; Editing by Kirsten Donovan )
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