Hungary's MOL will buy out the Russian stake in the Serbian company NIS

The Hungarian energy conglomerate MOL has agreed to acquire the Russian stake in the Serbian energy company NIS. Serbia’s First Deputy Prime Minister, Sinisa Mali, announced the deal.

The Russian parties—Gazprom Neft and Gazprom—own a total of 56.1% of the company. It is this stake that MOL plans to acquire.

“The contract has been signed. As a state, we have also prepared a shareholders’ agreement with the Hungarian side. All that remains is to obtain approval from the relevant antitrust commissions,” Mali noted.

The deal is expected to be finalized in the near future.

The Serbian government’s stake in NIS will also increase—from 30% to 35%. The Serbian authorities have already concluded a corresponding written agreement with their Hungarian partners.

NIS, the operator of Serbia’s only oil refinery in Pančevo, was subject to U.S. sanctions in January 2025. At that time, Gazprom Neft and Gazprom were required to divest their stakes in the company.

The sanctions took effect in October 2025. The U.S. Department of the Treasury has repeatedly issued special licenses allowing certain transactions with NIS and negotiations regarding its sale. The latest such license is set to expire on October 30.

Source: Politica.

MOL accepted Ukrainian oil following the Russian strike on the “Druzhba” pipeline.

As a reminder, Hungary banned entry for the Ukrainian Armed Forces commander responsible for the strikes on the “Druzhba” oil pipeline.

Orbán also threatened Zelenskyy with “consequences” following the strike on the “Druzhba” oil pipeline.