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Serbia seeks solution to US sanctions on national oil company NIS

Finance Minister Sinisa Mali stated that discussions are ongoing with both Russian and US representatives to find a solution that safeguards the interests of Serbian citizens. He stressed that Serbia did not trigger these sanctions and must ensure that its energy security is not compromised. The government’s priority, according to Minister Mali, is to prevent any disruption in fuel supply and protect the country’s energy independence.

Diplomatic efforts include recent talks between President Aleksandar Vucic and US Secretary of State Marco Rubio, as well as meetings with the Russian ambassador in Belgrade. On 28 September, NIS submitted a new application to the US Treasury Department requesting an extension of the special license that postpones full enforcement of the sanctions, allowing the company to continue normal operations. An additional request was also filed to remove NIS from the SDN (Specially Designated Nationals) list, a process that is lengthy and complex and was first initiated on 14 March.

The US introduced sanctions against NIS in January due to its Russian ownership stake. These measures have been postponed six times, most recently until 1 October. President Vucic has announced that the deadline has now been extended further to 8 or 9 October.

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