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President of Serbia Aleksandar Vucic had repeatedly stated that talks with MOL have not been progressing well and that he doubted a deal could be finalized by the original May 22 deadline.
Serbia is seeking a long‑term solution to protect national interests, noting that NIS’s operating license remains valid until June 16, ensuring uninterrupted crude deliveries to the Pancevo refinery via the Adriatic pipeline.
MOL previously agreed to acquire an 56.15% stake, while Gazprom holds 11.3% and Gazpromnyeft 44.9%, with the Serbian government owning 29.87% and minority shareholders holding the remainder.
Serbia has said it is prepared to buy the Russian stake itself if needed, especially after U.S. sanctions were imposed on NIS on Oct. 9, 2025, due to its Russian majority ownership.
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