Djedovic Handanovic: NIS still waiting for OFAC decision

BELGRADE - Serbia's Minister of Mining and Energy Dubravka Djedovic Handanovic said on Tuesday the Serbian oil company NIS - which is under US sanctions due to its Russian-majority ownership - was still waiting for a decision by the US Office of Foreign Asset Control (OFAC) on its request for a new operating licence.

In an Instagram post, Djedovic Handanovic wrote there were sufficient quantities of oil derivatives and that state authorities, with President Aleksandar Vucic at the helm, were working to ensure the consequences of the sanctions on NIS were not felt by the population.

"Unfortunately, we have no indication that it (a US decision) will be a positive one. Meanwhile, the refinery will halt operations, but the citizens have no reason for concern," she added, noting that that the consequences of the sanctions had not been felt since their entry into force 54 days ago.