Serbia's NIS, Hungary's MOL ask US to suspend sanctions

Serbia's oil and gas company NIS and Hungarian energy group MOL have asked the US Treasury's Office of Foreign Assets Control (OFAC) to suspend sanctions on NIS during talks over MOL's planned buyout of Russian shareholders in the company.

Report informs that, according to Serbian portal RTS, Energy and Mining Minister Dubravka Đedović-Handanović said the governments of Serbia and Hungary support MOL's negotiations to acquire the Russian stake in NIS, as well as efforts to ease the company"s sanctions restrictions.

The minister noted that OFAC had previously extended a licence allowing NIS shareholders to negotiate the sale of the Russian stake until 24 March. The previous licence had limited this process to February 13, 2026.