Negotiations over a potential ownership shift in Serbia’s oil company NIS are entering a critical phase, with Serbia and Hungary’s MOL Group expected to finalize a shareholder agreement soon. According to President Aleksandar Vučić, the talks remain complex, as both sides work to reconcile demanding conditions before reaching a final deal.
A central concern for Serbia is ensuring that any future arrangement does not impose stricter obligations than those previously agreed with its Russian partner, Gazprom. At the same time, MOL has its own requirements, though Vučić expressed confidence that a mutually acceptable compromise can be achieved.
The negotiations are unfolding under tight regulatory deadlines. The current license related to NIS operations is valid until mid-April, while the broader deadline for concluding discussions has been extended to 22 May. Serbian officials expect the license to be prolonged, noting that talks have involved Hungarian partners as well as international stakeholders, with awareness at high political levels, including US Vice President JD Vance.
Alongside ownership discussions, authorities are also addressing market stability amid global uncertainty. Vučić acknowledged that measures such as limiting exports of petroleum products and reducing fuel excise duties may not be sufficient given ongoing geopolitical tensions, particularly those involving Iran. He warned that potential disruptions could first affect aviation fuel supplies, adding that Serbia may need to rely on strategic reserves to prevent shortages.
The government has already implemented further tax reductions on fuel, helping stabilize prices but reducing budget revenues and limiting capacity for public spending and wage increases. Officials recognize that such trade-offs are unavoidable in the current climate of global volatility.
Serbia is also looking toward stronger cooperation with Hungary following recent political developments. Vučić indicated that joint infrastructure projects, including plans for a new oil pipeline, could regain momentum once bilateral relations stabilize, reinforcing regional energy security.
