Negotiations are reportedly underway between Gazprom Neft and MOL Group over the potential transfer of the Russian firm’s ownership stake in Serbia’s NIS. According to media reports, the parties aim to finalize a deal by the end of March, although approval from US authorities and the Serbian Government remains a critical condition.
At the same time, MOL Group is reportedly exploring alternative scenarios, including discussions with ADNOC about acquiring a minority stake in NIS. This reflects broader strategic interest in reshaping the company’s ownership structure amid shifting geopolitical and market dynamics.
Developments in US policy could also play a role. Signals from Washington indicate that certain shipments of Russian crude already in transit may be exempt from sanctions, potentially easing pressure on global oil markets and slowing recent price increases linked to instability in the Middle East.
These dynamics are particularly significant for Serbia, as its refining system has traditionally depended on Russian Urals crude. However, supply routes have increasingly diversified, with alternative deliveries being secured via the JANAF pipeline.
Meanwhile, the extension of the operating license granted to NIS by the Office of Foreign Assets Control (OFAC) until 17 April is seen as a stabilizing factor. The decision is expected to help ensure continuity of fuel supply, both in Serbia and across the wider region.
