OFAC

MOL-NIS deal nears final stage as Serbia seeks increased control

A potential acquisition of NIS by Hungary’s MOL is entering a late phase, according to reports cited by N1 and developments tied to U.S. sanctions affecting the company’s Russian ownership structure. The transaction is linked to the U.S. Treasury’s Office of Foreign Assets Control (OFAC) and its licensing process. The proposed deal would give MOL ownership of the combined 56.2% stake in NIS held by Russia’s Gazprom Neft and Gazprom. The sale is being pursued after U.S. sanctions were imposed…