sanctions

MOL Receives U.S. Extension for NIS Talks as Ownership Talks Continue

Hungary’s MOL Group has received approval from the United States to continue negotiations over the acquisition of a controlling stake in Serbia’s NIS, while a separate U.S. licence allows the oil company to maintain normal operations. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) authorised MOL to continue discussions concerning the majority stake held by Russian shareholders. NIS separately received permission covering operations, crude imports, refining activities and financial settlements. The two extensions give Serbia additional time to address…