Negotiations between Serbia and Hungarian oil company MOL have concluded with a shareholders’ agreement regarding the acquisition of shares. However, the deal’s significance is currently limited, as it awaits approval from both Moscow and the US Office of Foreign Assets Control (OFAC). The Serbian Minister of Mining and Geology confirmed the agreement’s completion. This suggests Russian consent is crucial, likely due to Russia’s influence over NIS, the Serbian oil company involved. OFAC approval is necessary due to potential sanctions implications related to Russian involvement in the energy sector. The agreement’s practical impact remains uncertain until these approvals are secured. Further details of the agreement have not yet been disclosed.