The US Treasury’s Office of Foreign Assets Control (OFAC) has authorized Hungarian energy group MOL and MOL Serbia to continue preparatory work for a potential acquisition of the Russian-owned stake in Serbia’s NIS until February 28, 2027. The authorization does not allow the transfer of ownership.
It covers specified steps to prepare a change in ownership, including procedures involving Russian-held securities and approvals from Russian authorities. A separate OFAC decision is required before MOL can complete the purchase and formally end Russian ownership and control of NIS.
That separate sanctions approval remains the decisive regulatory condition for any transfer of the stake. NIS is strategically important to Serbia because of its role in domestic fuel supply and refining.
Negotiations continue
Talks involving Serbia, Hungary and Russia are continuing, with a previously stated objective of reaching an agreement by December 11. The extended authorization gives the parties more time to address corporate, regulatory and Russian-government approvals, even if the target slips.
For Serbia, the extension reduces immediate transaction pressure but does not resolve uncertainty over NIS. The February 28, 2027 deadline provides negotiating space, not certainty that the acquisition will proceed.
The remaining question is whether OFAC will authorize the actual transfer of the Russian-held stake; without that decision, MOL cannot complete the purchase.
