BELGRADE: The US Treasury’s Office of Foreign Assets Control (OFAC) has extended a licence to Hungary’s energy company MOL to negotiate the purchase of a majority stake in Serbia’s Russian-owned NIS until July 1, MOL said in a statement on Wednesday.
The company offered no further details.
OFAC imposed sanctions on NIS in October as the US targeted Russia’s energy sector over the war in Ukraine, and demanded that Russian firms divest the NIS shares they own.
MOL signed an agreement in January to buy the combined 51.56% stake held by Gazprom Neft and Gazprom, pending OFAC approval.
US sanctions forced NIS, which owns the only refinery in Serbia, to seek waivers from OFAC to buy and process crude oil, which would not be required once a share sale is completed. Late on Tuesday, OFAC granted NIS a sanctions reprieve until July 1.
Croatian oil pipeline operator Janaf has received a similar licence from OFAC to continue supplying oil to NIS until July 1, Janaf said in a statement on Wednesday.
Also on Tuesday, MOL signed a shareholders’ agreement with Serbia over its 29.9% stake in NIS, separate from acquisition talks between MOL and Russian companies.
