Key highlights
- OFAC extended MOL's negotiation license to 22 May 2026 to finalize the sale and transaction documents.
- The deal would transfer Gazprom Group's 56.15% stake in NIS to MOL, granting majority ownership and management rights of Serbia's sole oil refinery.
- The license permits U.S. financial institutions to participate in the transaction's execution.
- The transaction remains subject to OFAC and Serbian government approvals.
OFAC license extension
The U.S. Treasury’s Office of Foreign Assets Control accepted MOL’s application and extended the negotiation deadline to 22 May 2026, allowing finalisation of the sale and transaction documents in line with the heads of agreement signed in January 2026 and permitting U.S. financial institutions to participate in the transaction’s execution.
Transaction scope
On completion, MOL would acquire Gazprom Group’s 56.15% stake in Naftna Industrija Srbije (NIS), obtaining majority ownership and management rights of the company that operates Serbia’s sole oil refinery.
Pending approvals
The transaction remains subject to approvals from OFAC and the Serbian government.
