Negotiations on the sale of part of Serbian oil company NIS have entered an accelerated phase, with Russian Gazprom seeking to secure a buyer for its 11.3 percent stake. Moscow’s primary expectation is that Hungarian energy company MOL, backed by Prime Minister Viktor Orbán, will acquire the share package. A clearer direction is expected in mid-November, when a Russian delegation is scheduled to arrive in Budapest for further discussions.
However, Russia is not depending solely on Hungary. Parallel talks are underway with partners from the United Arab Emirates as part of broader efforts to restructure the company’s ownership.
According to the weekly, Moscow believes that demonstrating a gradual withdrawal from NIS’s ownership structure might be sufficient for the US Office of Foreign Assets Control (OFAC) to suspend sanctions as early as next week. Serbian President Aleksandar Vučić stated that Russia is negotiating with an undisclosed third party regarding changes in NIS’s management structure, though he did not reveal details.
Energy Minister Dubravka Đedović confirmed that the Russian shareholders have formally asked OFAC for an extension of NIS’s operating license, citing ongoing negotiations with this third party.
NIS was placed under US sanctions earlier this year due to Russian ownership, but the enforcement of the measures was postponed until 9 October, when the sanctions officially came into effect.
