Negotiations surrounding the acquisition of Naftna Industrija Srbije (NIS) by the Hungarian energy firm MOL have received a temporary reprieve,as the United States has granted an extended deadline. MOL now has until July 31, 2026,to finalize its discussions,which become increasingly intricate given that the company,along with its primary stakeholder, is facing restrictions imposed by U.S. authorities.
The firm confirmed this recent development, attributing it to the green light received from U.S. authorities responsible for overseeing financial transactions. In a statement released on the Budapest Stock Exchange, MOL expressed optimism about the progress made thus far in the negotiations, indicating that it is poised to wrap up necessary documentation shortly. Reports from Serbian officials suggest that key elements of the deal have reached a consensus .
Earlier this year,an agreement in principle was established between Gazprom and MOL regarding transfer of a significant ownership interest in NIS. At the same time, Serbian officials announced intentions to augment their ownership in the enterprise by additional 5%,which would bolster their decision-making power among shareholders. Furthermore,MOL is actively in talks with ADNOC, company based in the United Arab Emirates, which is exploring possibility of acquiring a minority stake in NIS .
The context of these negotiations is influenced by U.S. restrictions placed on NIS and its Russian parent company,which were officially enacted on October 9, 2025. These sanctions followed the entities' addition to U.S. Treasury’s list of restricted organizations earlier that year. In a related development,Serbia's Ministry of Mining and Energy revealed in November that the Russian stakeholders of NIS indicated their readiness to divest control of the company,a move necessitated by the ongoing sanctions.
As MOL pursues this acquisition, the final outcome remains to be seen, though the company is diligently working to obtain the required approvals to move forward with the process.
