en.Wedoany.com Reported - Dimension News, Serbian Energy Minister Dubravka Đedović Handanović announced on social media Tuesday that Russia-controlled Serbian oil company NIS has obtained a new sanctions exemption from the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), valid until July 31. The previous exemption was set to expire on Wednesday.

The exemption allows NIS, the operator of Serbia's only refinery, to continue importing crude oil until it completes the sale of its Russian majority stake to Hungary's MOL (MOLB.BU). As part of U.S. sanctions targeting Russia's energy sector, OFAC imposed sanctions on NIS last October, requiring it to divest shares held by Russia's Gazprom Neft and Gazprom.

On January 19, MOL signed an agreement to acquire approximately 56% of NIS shares held by the two Russian entities. After multiple extensions, OFAC had previously required the relevant parties to complete the transaction by Wednesday. The Serbian government currently holds about 29.9% of NIS shares and plans to increase its stake by 5%. Gazprom holds approximately 11.3% of NIS shares, its sanctioned oil subsidiary holds 44.9%, and the remaining shares are held by minority shareholders and employees.

The new exemption period is aligned with the transaction completion timeline, providing a buffer for NIS to maintain operations. The Serbian government has expressed support for MOL's acquisition and aims to strengthen its influence in the energy sector by increasing its state-owned stake.