The Oil Industry of Serbia (NIS) announced today that it has submitted a request to the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury for the issuance of a new special license that would allow it to continue operating after June 16, when the previous license issued in April expires.
In its request, the company emphasized the importance of regular work for the orderly supply of the domestic market, especially due to the situation on the global oil market, and pointed to the advanced negotiations on changing the ownership structure of NIS, for which OFAC has extended the license on several occasions.
NIS thanked domestic and foreign institutions that support efforts to enable the company to operate smoothly and thus contribute to the energy stability of Serbia.
NIS is under US sanctions imposed in October over its Russian ownership, as part of broader measures targeting Moscow's energy sector following its invasion of Ukraine. Washington is pushing for a sale of the Russian stake, and NIS has secured a series of temporary exemptions in the meantime.
OFAC has granted the Hungarian company MOL, which is negotiating with Russia's Gazprom Neft to take over majority ownership in NIS, a license to complete those negotiations, valid until June 16.
Serbia has a 29,9 percent stake in NIS, while the remaining shares are owned by Gazprom Neft, JSC Intelligence and minority shareholders.
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