Djedovic Handanovic: Operating licence for NIS extended until March 20

BELGRADE - The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has extended an operating licence issued to the Serbian oil company NIS for 30 more days, until March 20.

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

"Good news for Serbian citizens - the operating licence for NIS has been extended until March 20. NIS can continue to receive crude oil and process it at the Pancevo refinery to continue to supply the market with oil derivatives regularly," Serbia's Minister of Mining and Energy Dubravka Djedovic Handanovic said on Friday.

The minister said she would speak with the Russian side and also travel to Washington next week as part of continued diplomatic efforts to find a solution to the sanctions.