hungarytoday.hu<https://hungarytoday.hu/mol-and-nis-request-suspension-of-u-s-sanctions-until-end-of-negotiations/> MOL and NIS Request Suspension of U.S. Sanctions Until End of Negotiations Hungary Today 3–4 minutes ________________________________
Negotiations are underway between MOL and Russian owners regarding the purchase of a majority stake in Serbian NIS. Based on press reports, MOL and NIS have submitted a joint request to the U.S. authorities for a temporary suspension of sanctions. Hungarian company MOL and Serbian oil company NIS have submitted a joint request to the U.S. Office of Foreign Assets Control (OFAC) to suspend sanctions against NIS for the duration of negotiations on changes to the ownership structure, announced Dubravka Djedovic Handanovic, Serbian Minister of Mining and Energy. The Minister emphasized that the Hungarian government supported these negotiations and that the Serbian government was also doing everything in its power to lift the sanctions and secure NIS’s operating license. The politician stated that Belgrade is committed to ensuring that the company can continue to operate, regardless of how long it takes to complete the transaction. NIS is one of the largest energy companies in the Balkans, majority-owned by Russian companies Gazprom Neft (approx. 45 percent) and Gazprom (approx. 11 percent), both of which are subject to sanctions, while the Serbian state holds a stake of nearly 30 percent. U.S. sanctions were imposed on Gazprom Neft and NIS in January this year as part of broader measures against Russian energy companies. The punitive measures finally came into force in the autumn after several postponements. The restrictions halted crude oil shipments through the Croatian JANAF pipeline, leading to the suspension of production at the Pančevo refinery. Serbian President Aleksandar Vučić has previously indicated that negotiations are underway between the Russian owners and MOL regarding the sale of the majority stake. The Serbian government supports the solution, which could contribute to the lifting of sanctions and the restoration of the company’s stable operation. Serbian fuel supplies are currently secure despite U.S. sanctions, mainly thanks to significant assistance from MOL, which has increased its crude oil and finished product deliveries to Serbia by 2.5 times since December. According to a statement by Russian Ambassador Aleksandar Bocan-Harcenko, neither the population nor large consumers are feeling the effects of the restrictions. The Serbian government’s strategic reserves and increased imports also contribute to stability. However, the final solution would be for MOL to buy out the Russian stake in NIS, as this would render the sanctions obsolete. If no agreement is reached, Serbia is prepared to buy out the Russian owner from NIS. In addition to the NIS problem and domestic political tensions, there are other risks in the country, but the Serbian economy appears to have continued growing. However, the future remains a big question mark. CER Cargo Group Completes Acquisition of Austrian Rail Freight Operator<https://hungarytoday.hu/?post_type=post&p=352026> The Budapest-based company operates subsidiaries across Southern, Eastern, and Central Europe.Continue reading<https://hungarytoday.hu/?post_type=post&p=352026> Via Világgazdaság<https://www.vg.hu/nemzetkozi-gazdasag/2025/12/mol-nis-szankciok-felfugesztes-keres>; Featured photo: MTI/Hegedüs Róbert -- http:www.antic.org --- You received this message because you are subscribed to the Google Groups "SERBIAN NEWS NETWORK" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion visit https://groups.google.com/d/msgid/senet/PH0PR13MB5446938665A9FC7436A97318AEBDA%40PH0PR13MB5446.namprd13.prod.outlook.com.
