NIS requests new licence delaying full implementation of US sanctions

BELGRADE  - Serbia's Russian majority-owned oil company NIS has sent a request to the US Department of the Treasury for another special license delaying full implementation of US sanctions.

"The goal is to ensure uninterrupted business operations beyond April 28, when the current license, issued on March 28, expires. It should be noted that, on March 14, the company also submitted a petition to the Department of the Treasury for removal from the Specially Designated Nationals List, although such a removal is a lengthy procedure," NIS said in a statement.

"In the upcoming period, despite complex circumstances, NIS remains focused on ensuring uninterrupted supplies of all types of petroleum products to the domestic market and maintaining the social stability of its employees. The company will promptly inform the public of any new developments that may affect its operations," it also said.