Belgrade, Serbia – November 28, 2025 – Talks are ongoing for Hungary’s oil and gas company MOL to potentially acquire a stake in Serbia’s NIS refinery, which is currently under U.S. sanctions due to its Russian ownership, according to Gergely Gulyas, chief of staff to Hungarian Prime Minister Viktor Orban.

Serbia is seeking a buyer for NIS as part of efforts to resolve issues stemming from U.S. sanctions. MOL could play a greater role in the refinery’s operations if a market-based transaction is agreed upon.

"There could be an opportunity for a normal market transaction, but these talks are currently underway," Gulyas said during a briefing. "Let me say again, it is in the interest of the company NIS that Russian ownership should end. One option here is for MOL to take on a greater role."

Prime Minister Orban is currently visiting Serbia, where energy cooperation and the future of NIS remain high on the agenda.