Serbia’s oil company NIS has asked the US Treasury Department’s Office of Foreign Assets Control for another authorization to continue operating after its current licence expires on October 30. The application seeks to prevent disruptions across the company’s operations, particularly at the refinery in Pančevo, a major supplier of petroleum products to the Serbian market.
NIS has warned that restrictions on refinery operations could disrupt domestic fuel availability and increase risks to Serbia’s energy security. In its application, the company highlighted the need to maintain reliable supplies of petroleum products and avoid operating restrictions that could destabilize the market. It also cited the involvement of Serbian and international institutions in efforts to obtain the required regulatory authorization.
US authorities had not decided on the application at the time covered by the report. Until a further licence is granted, uncertainty remains over the conditions under which NIS can operate after October 30. The waiver decision is therefore an immediate issue for Serbia’s oil market and security of supply.
