Aleksandar Vucic (BETAPHOTO/Predsednistvo Srbije/Dimitrije Goll)
Serbian President Aleksandar Vucic held talks with senior executives of Hungary’s energy company MOL about a possible purchase of Serbia’s oil company NIS, which has been placed under U.S. sanctions due to Russia’s majority stake in the company, Serbia’s public broadcaster RTS reported on Jan. 12.
According to RTS, the discussions covered all aspects of bilateral cooperation, the urgency of resolving issues with the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), as well as plans to sign an international agreement between Serbia and Hungary.
Under a special license issued by OFAC on Dec. 31, 2025, NIS was again permitted to carry out its operations through Jan. 23, including restarting refinery processing, importing crude oil, and conducting transactions necessary for supply security and technical maintenance.
RTS said OFAC had previously issued a license to NIS extending the deadline for negotiations on the sale of the Russian stake until March 24. Under an earlier license, the deadline for changing the company’s ownership structure had been Feb. 13.
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