The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has issued an additional license to MOL and MOL Serbia Investment Kft. in connection with the potential acquisition of an ownership stake in NIS a.d. Novi Sad (NIS).

As MOL announced, the license authorizes certain transactions necessary for the transfer of Russian-origin securities to MOL Serbia Investment Kft., as well as related activities, including obtaining certain necessary approvals from Russian state authorities.

The license is valid until February 28, 2027.

The license does not cover the completion of a transaction that would result in the termination of Russian ownership and control of NIS. Any such completion of the transaction would require separate approval from OFAC authorities, MOL specified.

Hungarian Foreign Minister Anita Orban said yesterday that her country expects an agreement on the acquisition of the Russian stake in the Oil Industry of Serbia (NIS) by December 11, and that all parties want to conclude negotiations over NIS before the deadline expires.

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Source: Nova.rs, Foto: NIS

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