NIS receives new OFAC specific licence to continue operations until July 1

BELGRADE - The US Department of the Treasury issued on Tuesday a new specific license to the Serbian oil company NIS that allows it to continue operations until July 1, 2026, the company has announced.

"This licence allows for the maintenance of business operations, contracts and other agreements involving NIS or its operating subsidiaries, including refining activities, crude oil imports, the execution of transactions necessary for the security of supply and technical maintenance, as well as financial settlements," NIS said in a statement.

The previous operating licence issued by the OFAC expired on June 16.

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

The Hungarian oil firm MOL is in talks with Russia's Gazprom neft about acquiring a 56.15 pct stake in NIS.

The OFAC has also extended until July 1 a licence issued to MOL to complete the talks, Tanjug learns.