Croatian oil pipeline operator JANAF has warned that it could lose a significant portion of its revenues if US sanctions on Serbian oil company NIS are implemented in October. To address this risk, JANAF plans to request an extension of its license from US authorities to continue its cooperation with NIS.
Currently, JANAF holds a license that allows it to fulfill its crude oil transport agreement with NIS until 1 October 2025. The company said it will soon approach the US Office of Foreign Assets Control (OFAC) through its American legal representative, with support from the Croatian Government, to secure an extension. The license’s status beyond October will largely depend on NIS’ interactions with US regulators.
NIS has confirmed that it recently submitted a new application to the US Department of the Treasury for a special license, which would delay full enforcement of sanctions and allow its operations to continue beyond 26 September, when the previous authorization expires. In March, the company also requested removal from the Specially Designated Nationals (SDN) list, a process described as complex and lengthy. Since the beginning of 2025, implementation of sanctions against NIS has already been postponed six times through special OFAC licenses.
NIS was initially targeted by US sanctions due to its majority Russian ownership, which has drawn heightened international scrutiny amid ongoing geopolitical tensions linked to Russia’s invasion of Ukraine.
