The KFT Senator Treasury G.T.7 Two LLC offer represents a challenge for MOL, which wants to acquire a majority stake in the Russian oil company NIS, which is under American sanctions.

The offer submitted by KFT Senator Treasury G.T.7 Two LLC, a company founded last summer, complicates the plans of the Hungarian company MOL to acquire a majority stake in NIS, which is under sanctions imposed by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury. These sanctions were imposed in the context of the war in Ukraine, targeting the energy sector of Russia, and call for the divestment of NIS shares held by Gazprom Neft and Gazprom, the Russian majority owners of the company. Gazprom Neft has confirmed that it is preparing to sell its stake in NIS to MOL, stating that the necessary procedures are underway. The company is not engaged in any other negotiations on this matter, and Gazprom and NIS have not provided further comments.