Suspicious High Bid for NIS Shares Seen as Pressure Tactic in MOL Negotiations

Negotiations for the sale of Russian-owned shares in Serbia's oil giant NIS have been disrupted by a surprise two-billion-euro bid from little-known Serbian businessman Ranko Mimović. This offer is double that of the Hungarian MOL Group, which has been negotiating the acquisition for months. However, energy experts and former MOL managers suspect Mimović’s bid is not a serious commercial alternative but a tactic to exert political pressure during ongoing talks between Budapest, Belgrade, and Russian owners. The situation is complicated by US sanctions imposed on NIS in October 2025, creating a strict deadline of May 22 for restructuring ownership. Serbian authorities fear MOL might reduce operations at the Pančevo refinery, which supplies 80% of the country's fuel, while Mimović faces allegations of past financial crimes. Although Mimović claims acceptance from Russian owners and US regulators, Serbian President Aleksandar Vučić has distanced himself from the businessman. The final decision hinges on guaranteeing long-term energy security and political acceptability rather than just the highest price, reflecting the strategic interests of Serbia, Russia, and MOL.