Why does NIS need a new U.S. licence by June 16, and what is the context of its current sanctions status?

NIS needs a new U.S. licence by June 16 because its current licence — issued under U.S. sanctions — expires on that date; the company is subject to U.S. sanctions imposed in October over its Russian ownership, specifically due to Gazprom Neft’s 56.16% stake, as part of broader measures targeting Moscow’s energy sector following Russia’s invasion of Ukraine. To maintain operations, NIS has relied on temporary OFAC waivers while pursuing a change in ownership structure, and it has now formally applied for a new licence, citing the importance of uninterrupted domestic fuel supply and ongoing advanced negotiations on divestment.

What role is MOL playing in resolving NIS’s ownership issue, and what deadline has OFAC set for it?

Hungarian oil and gas company MOL has been granted until June 16 by OFAC to complete negotiations to acquire Gazprom Neft’s 56.16% stake in NIS, as part of U.S. efforts to facilitate the divestment of Russian ownership from the Serbian refinery operator; this deadline aligns with the expiry of NIS’s current U.S. licence, underscoring the tight linkage between the ownership transition and the continuation of NIS’s sanctioned operations.

Serbia's NIS Seeks New US Licence to Operate After June 16

Jun 10, 2026

Serbia's Russian-owned NIS refinery applied for a U.S. OFAC license extension as its current one expires June 16. Hungarian firm MOL is negotiating to acquire the Russian stake amid broader energy sector sanctions.

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