Serbian energy authorities have confirmed that ongoing discussions are underway regarding a potential change in ownership at oil company NIS, as efforts continue to resolve US-imposed sanctions on the company. According to the Ministry of Energy, the talks involve Russian majority shareholders and Hungary’s MOL, which is being considered as a potential buyer of the Russian stake.
Energy Minister Dubravka Đedović stated that the negotiations aim to meet the conditions set by the United States for easing restrictions on NIS. Both NIS and MOL have approached the US Office of Foreign Assets Control (OFAC) to clarify the framework under which the ownership transition could proceed.
The Hungarian Government has publicly supported the process, while Belgrade has pledged its own institutional backing to help achieve an outcome that would allow NIS to regain full operational stability. Serbian authorities view the talks as a key step not only toward lifting sanctions but also toward securing a renewed operating license for the company.
More than two months after the sanctions came into effect, the Government assures that domestic fuel supply remains stable. State reserves of diesel, gasoline, fuel oil, and aviation kerosene have so far mitigated the impact, preventing disruptions for consumers. However, officials caution that long-term reliance on reserves is unsustainable, as Serbia lacks the logistical capacity to import the full daily volume of petroleum products.
Given these constraints, the Government plans to maintain intensive diplomatic and technical engagement to ensure NIS can continue operations, even if the ownership transaction takes longer to finalize. The Ministry emphasized that the next decisive steps largely depend on OFAC, which is expected to first rule on a new operating license and then oversee whether the negotiations comply with US requirements.