First Deputy Prime Minister and Minister of Finance Sinisa Mali stated that he expects the Hungarian company MOL to officially take over the Oil Industry of Serbia (NIS) by mid-March.
21.01.2026. 13:48
“What is important is that on Monday we reached an agreement with the Hungarian side and the Arab partners regarding our rights and obligations at the moment they assume management of the company. The Hungarians said that the agreement would be signed by the deadline set by OFAC, that is, by March 24. I expect this to happen a bit earlier, around or by mid-March,” Mali said.
The minister assessed that the majority of the work regarding the solution for NIS has already been completed.
“In my opinion, majority of the work has already been done, given the ‘term sheet’ that was submitted and signed between the Hungarians and the Russians, containing the basic provisions of the agreement. This is good news, as it reduces uncertainty regarding fuel supply,” Mali said.
According to him, Serbia is entering a more stable and calmer period.
Serbian President Aleksandar Vucic stated that he held a very productive discussion with European Commissioner for Enlargement Marta Kos on current issues in relations between Serbia and the European Union, with a particular focus on reform commitments and energy security.
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Serbia’s Ambassador to Spain, Irena Sarac, stated that no one has contacted the Embassy of the Republic of Serbia so far with information or concerns regarding their relatives.
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Autor“We can focus on our investments, sign agreements with additional investors, introduce new technologies, and create new jobs,” Mali said.
On December 31, 2025, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued a special license allowing the company to resume operational activities through January 23 of the current year.
Previously, OFAC issued a license to the Oil Industry of Serbia extending the deadline for negotiations on the sale of the Russian stake until March 24.
On January 19, Hungarian company MOL and Russia’s Gazprom Neft agreed on the basic terms of a future sales and purchase agreement for NIS, which will be reviewed by OFAC.
During the negotiations, Serbia succeeded in increasing its ownership stake by five percent.
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