US Extends Licence for Sanctioned NIS

The US Treasury Department extended the operating licence for the sanctioned oil company Petroleum Industry of Serbia (NIS) by another month on Friday, allowing the firm to continue importing crude and operating its primary refinery.

Serbian Energy Minister Dubravka Djedovic Handanovic announced on Instagram that the Office of Foreign Assets Control (OFAC) pushed the waiver deadline from Friday midnight to September 30.

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A post shared by Dubravka Đedović Handanović (@dubravka.djedovic)

Handanovic emphasised that the extension ensures the Pančevo oil refinery remains operational during a period of high domestic fuel demand and Danube River transport challenges.

US extends licence for sanctioned NIS (News Central TV) — The US extends a licence for sanctioned NIS. Credit: Reuters

The temporary licence provides breathing room as Serbian officials finalise negotiations to sell the majority Russian stake in NIS to Hungarian energy giant MOL.

Serbian President Aleksandar Vucic expressed optimism on Thursday, stating he hopes to resolve the ownership transfer by the end of next month.

Russian energy firm Gazprom acquired a majority stake in NIS in 2008, while Serbia retains roughly 30 per cent and plans to purchase an additional five per cent stake following the deal.

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Abisoye Adeyiga

Abisoye Adedoyin Adeyiga holds a PhD in Languages and Media Studies and a Master’s in Education (English Language). Trained in digital marketing and investigative journalism, she is passionate about new media’s transformative power. She enjoys reading, traveling, and meaningful conversations.