Russian energy giant Gazprom is in discussions with Hungarian company MOL over a potential sale of its majority stake in NIS, Serbia’s only oil refinery, Serbian President Aleksandar Vučić confirmed on Tuesday.
The U.S. imposed broad sanctions targeting Russia’s oil sector in January due to Moscow’s war in Ukraine. However, their application to NIS was postponed several times before finally taking effect on October 8.
“We have information that Gazprom representatives are negotiating, among others, with the Hungarian company MOL, and we have nothing against this. The Hungarians are our friends,” Vučić told reporters.
He added: “We need to complete this as soon as possible, by January 15.”
Gazprom currently holds 11.3% of NIS shares, while its sanctioned subsidiary, Gazprom Neft, owns 44.9%. The Serbian government holds 29.9%, and the remaining shares belong to minority shareholders and employees.
Banks have halted NIS payment processing due to sanctions, and the Croatian pipeline operator JANAF has suspended crude oil deliveries to the refinery.
Vučić also announced that Serbia’s gas supply agreement with Russia will be extended for another three months, highlighting that Serbia remains one of the few European buyers of Russian natural gas.
The Serbian government, which aims for European Union membership, faces pressure from Western countries to align with EU sanctions on Russia, but has yet to take measures in this direction.
