Hungary has promised to increase oil supplies to Serbia following US sanctions.

Hungarian oil and gas group MOL will increase fuel supplies to Serbia, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó announced, Tanjug reports. The decision follows the imposition of US sanctions against Serbian oil company NIS, which is controlled by Gazprom Neft. 

“Since MOL plays an important role in supplying Serbia with oil and fuel, our Serbian friends can count on increased supplies from MOL,” Szijjártó said in a video message published inFACEBOOK (owned by Meta Corporation, which is designated as extremist and banned in RUSSIA). He emphasized, however, that additional volumes from the Hungarian company "will not fully compensate for the shortfall in supplies from Croatia."

The need to restructure logistics arose after Croatian Adriatic pipeline operator JANAF officially notified NIS on October 9 that it would cease oil transportation . The company's statement read: "On Thursday, JANAF received information that the Serbian company NIS had not received the license required to continue operations under the oil transportation contract. Therefore, contract performance was no longer possible as of October 8."

Following the imposition of US sanctions, NIS stated that it would take all necessary measures to ensure uninterrupted operations and fuel sales to customers. The company continues to discuss its request for removal from the SDN sanctions list with the US Treasury Department, but acknowledges that this is a "lengthy and complex process."

The US imposed sanctions against NIS, 44.85% owned by Gazprom Neft, in stages. At the end of September, Washington most recently postponed the start date of the restrictions from October 1 to October 8, 2025. Previously, the deadline had been postponed multiple times to minimize the impact on the region's energy market.

NIS operates a network of over 400 petrol stations in Serbia, Bosnia and Herzegovina, Bulgaria, and Romania. The company's shareholder structure includes:

• Gazprom Neft - 44.85%;
• Government of Serbia - 29.87%;
• JSC Intelligence (managed by Gazprom Capital) - 11.3%;
• PJSC Gazprom - 1 share ;
• minority shareholders.

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