Serbian oil company NIS has asked the US Treasury Department’s Office of Foreign Assets Control (OFAC) for a new special authorization to keep its operations running after 16 June, when its current waiver is due to expire. The request is aimed at securing continuity of business activities beyond the existing deadline.
In its submission, NIS said it is important to maintain uninterrupted operations, citing the company’s role in fuel supply for the Serbian market. The filing also referenced volatility in global energy markets and linked operational continuity to market stability and energy security.
OFAC waiver request tied to ongoing ownership discussions
NIS further stated that it has made progress in talks on potential changes to its ownership structure. The company said these negotiations have been a factor behind several previous extensions granted by OFAC while stakeholders work toward a long-term solution addressing sanctions-related concerns.
The latest application arrives as discussions about NIS’s future ownership move into a decisive phase. Earlier this month, Hungarian energy group MOL received approval from US authorities to continue negotiations related to a potential acquisition until 16 June.
That MOL approval was described as providing additional time for transaction documentation and completion of final details. With the operating waiver and ownership talks approaching key deadlines, market participants are monitoring OFAC’s upcoming decision for its potential implications for NIS and the broader Serbian energy sector.
