Djedovic Handanovic: Compromise on NIS reached with MOL

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic said on Wednesday evening Serbia had successfully resolved all outstanding issues with Hungary's MOL regarding its acquisition of a Russian-majority stake in the Serbian oil company NIS and that compromise had been reached on a shareholder agreement between the Republic of Serbia and MOL.

The minister said the Hungarian oil company had bound itself to keep the operations of Serbia's Pancevo oil refinery unchanged.

Serbia and MOL have agreed that, in case Russia's Gazprom Neft reaches a deal with MOL to sell 56.15 pct of its stake in NIS and the US Office of Foreign Assets Control (OFAC) then approves the transaction, Serbia will buy an additional 5 pct stake in NIS, which will give it additional rights when it comes to decision-making or vetoing decisions on issues important for our country, Djedovic Handanovic posted on Instagram.

Generally, Serbian members of the NIS Board of Directors will have greater powers than ever since the privatisation of NIS in 2008, she noted.

"We continue to work with commitment on finding a long-term solution for NIS as a result of US sanctions, for which Serbia, its government or its citizens are not to blame in any way," she added.

Since October 9, 2025, NIS has been under US sanctions due to its Russian-majority ownership.

Announcing the successful conclusion of talks on a shareholder agreement with the Serbian government, MOL said negotiations with the seller and the relevant institutions were still underway to finalise the acquisition of the majority stake in NIS.