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 beyond June 16, when the current operating licence 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 regular supplies to the Serbian market, especially in light of the situation on the global crude oil market, as well as that talks on changes to the company's ownership structure were in an advanced stage.

Thanking all Serbian and international institutions backing efforts aimed at enabling its unobstructed operations, NIS said they were also supporting Serbia's energy stability.

The Hungarian oil company MOL has obtained from the OFAC an official licence until June 16 to complete talks on its acquisition of a Russian-majority stake in NIS.

The current operating licence the OFAC has issued to NIS for crude processing expires on the same date.