A subsidiary of Gazprom has agreed to sell the majority stake of 56.16% in the Serbian oil company NIS to MOL, the Hungarian energy giant.

This transaction takes place in the context of the sanctions imposed by the USA on Russian properties, and the deal will require the approval of the US Treasury's sanctions authority. NIS, which operates the only refinery in Serbia and supplies 80% of the fuel market, is a strategic asset. Serbia's Minister of Energy, Dubravka Djedovic Handanović, mentioned that Serbia will increase its stake in NIS by 5 percentage points to have more influence in the company's decisions. Additionally, MOL is in negotiations with ADNOC from the United Arab Emirates for a potential minority stake. American sanctions have previously affected NIS's operations, but a temporary license allowed activities to resume. The deadline for completing negotiations is March 24.