NIS requests new special operating licence from US's OFAC

BELGRADE - The Serbian oil company NIS has submitted a request to the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury for a new special licence that would enable it to continue to operate without obstructions after March 20, when the current operating licence - issued on February 20 - expires.

Since October 9, 2025, NIS has been under US sanctions due to its Russian-majority ownership.

The request notes the significance of normal NIS operations for the Serbian economy, especially in light of global developments and the conditions on the global oil market, as well as an advanced stage of talks on a change of the company's ownership structure, NIS said on its website.

NIS thanked all Serbian and international institutions that support efforts to ensure unobstructed operations of the company, contributing to Serbia's energy stability.

A licence issued by the OFAC for the completion of the talks expires on March 24.