- The Extension: Hungarian oil and gas giant MOL has been granted a crucial regulatory extension by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) to continue negotiations until June 16, 2026.
- The Target: MOL is negotiating the blockbuster acquisition of a 56.16% majority stake in Serbia’s oil company, NIS, currently controlled by Russia’s state‑owned Gazprom Neft.
- The Sanctions Leverage: Due to its Russian ownership, NIS has been under strict U.S. sanctions. Washington has been aggressively pushing for a total Russian divestment from Europe’s energy grid, requiring NIS to survive on temporary U.S. government waivers.
- The Final Countdown: MOL’s previous negotiating license expired on June 6. Company officials revealed that talks have “progressed materially,” and this final 10-day extension is designed exclusively to finalize the definitive transaction documentation.
