Issue for August 1, 2026

Serbia privatized NIS and the controlling stake moved to the Russian side. From that point on, ownership in NIS became not only a business question but also part of Serbia's relations with Russia, the EU, and the United States.

US sanctions against NIS became a practical threat to the company's operations and required special OFAC licenses so that NIS could continue operating while a solution on ownership was being sought.

MOL and Gazprom Neft announced a preliminary framework for the purchase of 56.15 percent of NIS, but the transaction remained dependent on OFAC, regulatory approvals, and a final sale contract.

Serbia and MOL announced a compromise on the shareholder agreement: Serbia gets additional governance rights, the Pančevo refinery is supposed to keep operating, and the key immediate deadline remains June 16, 2026. Later the minister clarified that Serbia had completed its part, but the deal now depends on Gazprom Neft, MOL, and the United States; evening N1 and Danas items stressed that without a statute change, the extra five percent of shares is not the same as control.

Forbes/N1 checked Ranko Mimović's company, which Reuters had linked on May 6 to a EUR 2 billion offer to buy NIS. KFT Senator Treasury G.T.7 Dva had its account blocked six times in half a year at the Tax Administration's initiative, and on May 28 a first court dispute for RSD 98,496 was opened against it; this deepened doubts around alternative Serbian offers for NIS.

021, citing RTS, carried Jelica Putniković's assessment that the key decision is expected on Tuesday, June 16, when existing NIS licenses expire. She tied the outcome to OFAC consent, concrete contracts, possible governance changes, and the future of the Pančevo refinery.

Serbia and MOL signed a shareholder agreement on the future management of NIS. It depends on MOL's final deal with Gazprom Neft for 56.15 percent of NIS and OFAC approval; the same day Vučić said he expects the NIS license to be extended by 15 days.

Dubravka Đedović Handanović said that after the agreement with MOL, the Serbian side has completed its part of the talks, while the final NIS sale now depends on Gazprom Neft, MOL, and whether the solution is acceptable to OFAC.

021 reported that OFAC extended NIS's operating license and MOL's license for negotiations on buying the Russian stake until July 1, temporarily preserving the company's operations and oil refining after the previous June 16 deadline.

Danas reported that on July 1 NIS's operating license for importing oil via JANAF and the Gazprom Neft-MOL negotiation license expire; NIS filed a new request, while Serbia's authorities told the IMF they have fallback executive and legal measures if talks fail. N1 later added that the talks are unfolding amid Hungarian political-legal risks around MOL: the European arrest warrant for Zsolt Hernadi remains valid, and MOL's excess-profit tax is being expanded.

The US extended NIS's operating license for another 30 days, until July 31. According to Danas/BBC and Novosti, this keeps the company operating, fuel supplies flowing, and crude oil processing continuing at the Pančevo refinery; later, N1 and Danas added that JANAF received a license until July 31 for deliveries to NIS, while MOL received a license until July 31, 2026 to continue talks on the majority Russian stake.

OFAC extended NIS’s operating licence to 28 August. Citing RTS, N1 reported that this preserves the company’s operations and crude-oil refining; OFAC still has to decide separately on MOL’s request to negotiate with Gazprom Neft and JANAF’s request to supply NIS.