MOL has received an extension from the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) to continue negotiations related to a potential acquisition of a controlling stake in NIS, the Serbian oil company. The authorization extends the period for discussions until 16 June. MOL said the additional time is intended to allow the parties to complete preparation of documentation required for the proposed transaction.
OFAC timeline and previous extensions
The latest decision follows earlier OFAC approvals tied to the same talks. The most recent extension before this one was granted on 22 May, extending negotiations until 6 June. MOL reportedly requested a 30-day extension, but U.S. regulators approved an additional ten-day period instead.
MOL stated that significant progress has been made during the latest round of discussions. The company added that the newly granted extension should provide sufficient time to finalize remaining elements of the transaction framework. The statement did not announce any final agreement.
Scope of negotiations for NIS stake
The negotiations center on a potential majority stake acquisition in NIS, described as one of Serbia’s most strategically important energy companies. The process has drawn attention due to NIS’s ownership structure and the implications of U.S. sanctions targeting Russian-linked energy assets. While no final deal has been announced, the OFAC decision signals continued authorization for negotiations.
The extension provides additional time for both sides to complete discussions and prepare legal and commercial documentation for a potential transaction involving NIS. The authorization remains tied to the period ending 16 June as set by OFAC.
