Serbian oil company NIS has submitted a new request to the US Department of the Treasury for a special license to extend the postponement of full sanctions enforcement. This extension would allow NIS to continue its regular operations beyond June 27, when its current temporary license—granted on April 25—is set to expire.
In March, NIS formally applied to be removed from the Specially Designated Nationals (SDN) list, a process known for its complexity and length. So far, the US Office of Foreign Assets Control (OFAC) has issued three temporary licenses enabling NIS to delay the full application of sanctions. Despite these challenges, NIS has maintained uninterrupted supply of petroleum products to the domestic market and remains focused on preserving jobs and workforce stability. The company has pledged to keep the public informed of any developments that could impact its operations.
Meanwhile, Serbian President Aleksandar Vučić announced that official talks with the US administration regarding NIS are expected in the coming days. He noted that these discussions will be difficult, centering on the sanctions issue and NIS’s request for another extension.
The US sanctions on NIS arise from secondary risks linked to the company’s relationship with Russia’s Gazprom Neft, which is itself under Western sanctions due to Russia’s invasion of Ukraine. The latest license extension request aims to secure permission for NIS to continue operating beyond June 27, after the current temporary authorization expires.
