Core Viewpoint - Serbia's Minister of Mining and Energy, Andrija Handa Novic, announced an agreement between Hungary's MOL and Russia's Gazprom regarding the transfer of Russian shares in the Serbian Oil Company, which will be submitted to the U.S. Treasury's Office of Foreign Assets Control [2] Group 1: Share Acquisition - Serbia will acquire an additional 5% stake in the Serbian Oil Company, increasing its ownership from 29.87% to 34.87% [2] - Currently, Gazprom and its subsidiary hold a combined 56.2% stake in the Serbian Oil Company [2] - The increase in ownership will enhance Serbia's influence and control over the company's decision-making [2] Group 2: U.S. Sanctions - The U.S. Treasury's Office of Foreign Assets Control will impose sanctions on the Russian oil industry effective January 2025, affecting the Serbian Oil Company [2] - Gazprom holds 44.9% and its subsidiary holds 11.3% of the Serbian Oil Company, which will require Russian shareholders to exit due to the sanctions [2] - The sanctions are set to take effect on October 9, 2025 [2]