Why is there a deadline of May 22 for the sale of NIS, and what role does the Serbian government play in the deal?

The May 22 deadline was imposed by the United States, which demanded that Russian companies Gazprom Neft and Gazprom divest their 56% majority stake in NIS due to sanctions related to Russia's war in Ukraine; the Serbian government must consent to the sale because it holds a 29.9% stake in NIS, making its approval a required condition for the transaction to proceed.

What did President Vucic say about the likelihood of reaching a deal by the May 22 deadline, and what did he indicate about potential extensions?

President Aleksandar Vucic stated he was 'not optimistic' that an agreement between MOL and the Russian companies would be reached by the May 22 deadline, despite 'countless meetings' with MOL representatives; however, he noted that Washington was expected to grant additional time to conclude the deal.

Serbia's Vucic Says He Is Not Optimistic for a Timely Deal Over NIS Oil Firm

May 21, 2026

Serbian President Vucic doubts a deal will be reached by Friday for Hungarian firm MOL to acquire a majority stake in Serbia's NIS refinery, pending U.S. sanctions requiring divestment of Russian shares.

reuters

2026-05-21

Serbia's Vucic Says He Is Not Optimistic for a Timely Deal Over NIS Oil Firm

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