MOL agrees to buy Russian 56.15% stake in NIS

MOL signed binding heads of agreement on 19 January 2026; the Pančevo refinery, with 4.8 million tonnes of annual capacity, restarted after a shutdown caused by US sanctions. Serbia and MOL signed a shareholders' agreement on 16 June 2026 that applies only if the purchase closes and the US (OFAC) agrees. The OFAC licence for the negotiations runs until 30 October 2026; unconfirmed reports speak of stalling talks, and a purchase agreement has not been publicly confirmed (OGJ, 20 Jan 2026; European Western Balkans, 1 Oct 2026).