Serbia’s oil company NIS has received a temporary US Treasury licence to continue operating under the existing sanctions regime through 11 December. The authorisation was issued by the Office of Foreign Assets Control (OFAC). It covers commercial activity, including crude-oil processing at the Pančevo refinery.
NIS sought an extension before its previous licence expired on 30 October. The company aimed to prevent disruption to refinery operations and domestic fuel supplies. The new approval provides about six more weeks of operating certainty.
Licence does not provide a permanent solution
The approval reduces the immediate risk of interruptions to Serbia’s petroleum market. However, it does not establish a permanent arrangement. NIS’s ability to continue operating after 11 December will depend on further decisions by US authorities.
