Serbia and Hungary Ready Energy Pact as NIS Sale Nears U.S. Deadline

Serbian officials expect Russian NIS shareholders to sign a binding sale agreement this week.

Overview

Belgrade and Budapest are preparing an intergovernmental agreement spanning oil transport, refining cooperation and electricity exchange.
Serbia says Russian shareholders in NIS, under U.S. sanctions, are set to conclude a binding deal with new partners, including MOL, by the end of the week.
Authorities plan to seek a further U.S. license extension for NIS operations after the binding agreement, with ownership negotiations due by March 24.
Serbia has launched a tender for a 113 km oil pipeline from Novi Sad to the Hungary border, with work targeted to begin in mid‑2026 or early autumn and an 18‑month build for the Serbian section.
Hungary estimates about €320 million in investment and roughly 5 million tonnes per year of capacity, while Serbia pegs its section at about €129.5 million.