Hungary’s MOL will increase crude oil and fuel shipments to Serbia after U.S. sanctions on the Russian-owned NIS refinery disrupted supplies, Foreign Minister Peter Szijjarto said Wednesday.
The U.S. Treasury’s OFAC imposed sanctions on NIS in October, halting crude deliveries via Croatia’s JANAF pipeline, which threatened to force Serbia’s only refinery to shut down unless waivers were extended.
Szijjarto confirmed MOL doubled deliveries in November and will deliver 2.5 times more than usual in December. “Hungary will use all available means to help ensure Serbia’s crude oil supply remains secure,” he said after meeting Serbian Energy Minister Dubravka Djedovic Handanovic in Belgrade.
Serbian President Aleksandar Vucic has given Russian owners Gazprom Neft (44.9%) and Gazprom (11.3%) 50 days to sell their stake in NIS, or the government will take over operations. Serbia holds 29.9%, with the remainder owned by small shareholders.
Officials emphasized the urgency of securing an OFAC operational license to keep the refinery running. Parliament Speaker Ana Brnabic said amendments are being prepared to allow Serbia to take control of NIS if needed.
Szijjarto also highlighted plans to accelerate construction of a Hungary-Serbia oil pipeline, which could meet all of Serbia’s crude needs by 2028.