NIS requests new special licence from US Department of Treasury

BELGRADE - The Serbian oil company NIS has submitted a new application to the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) for a special licence that would allow it to continue its operations without interruption after September 30, when the current licence expires.

NIS is under US sanctions due to its Russian-majority ownership.

In a statement, NIS noted that its "uninterrupted operations, the regular functioning of the Pancevo Oil Refinery and a reliable supply to the market are of key importance for safeguarding energy stability in the Republic of Serbia."