NIS requests new specific 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 specific licence that would enable it to continue to operate without obstructions beyond July 31, when the current operating licence expires.

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

Recently, the US Office of Foreign Assets Control (OFAC) extended the operating licence for NIS until July 31.

A licence for MOL-Gazprom neft talks about an acquisition of a Russian majority stake in NIS by MOL was also extended until the same date.

The request points out NIS's significance for ensuring continuous supply to the Serbian market, especially in view of current trends in the global energy market, and notes that talks on changes to the company's ownership structure were underway.

NIS reiterated that its unobstructed operations, including regular operations of the Pancevo oil refinery, as well as regular market supply, were crucial for preserving energy stability in Serbia.

Serbian President Aleksandar Vucic said on Sunday he was optimistic about a solution for NIS and that he hoped a deal in the talks could be reached by late September.