BUDAPEST – The US Treasury Department’s Office of Foreign Assets Control (OFAC) has issued an additional license to MOL and MOL Serbia Investment Kft. in connection with the potential acquisition of stake in NIS.
According to a statement from MOL, the license authorises certain transactions necessary to transfer Russian-origin securities to MOL Serbia Investment Kft., along with related activities, including obtaining certain required approvals from Russian state authorities.
The license is valid until 28 February 2027.
As it was stated by MOL, the licence does not authorise the completion of a transaction that would end Russian ownership and control of NIS. Any such transaction would require separate approval from OFAC.
Hungarian Foreign Minister Anita Orbán said yesterday that Hungary expected an agreement on the acquisition of the Russian stake in Serbia’s oil company NIS by 11 December. She added that all parties wanted to conclude negotiations by the deadline.
