The United States Department of the Treasury has issued a special license temporarily delaying the enforcement of sanctions against Serbian oil company NIS until 28 April. This decision allows NIS to continue its operations without disruption, providing the company a reprieve until the deadline expires or the sanctions are reconsidered.
NIS expressed gratitude for the support from the Serbian Government and other institutions that helped secure the license extension. In March, the company formally requested removal from the Specially Designated Nationals (SDN) list, emphasizing its compliance with both Serbian and international laws. NIS also clarified that it was not involved in any activities that led to the imposition of sanctions, which have impacted its operations and the livelihood of over 13,000 employees.
With the new license, NIS can maintain its core business activities, honor existing agreements, conduct financial transactions, and engage in diplomatic activities outside of Russia. The company reaffirmed its commitment to market stability, continued investments, and job security, while remaining open to further cooperation with the US Department of the Treasury to address the sanctions.
In related news, Croatian oil transportation company JANAF announced that it had secured a 30-day license from the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) in cooperation with American legal experts and the Croatian Government. The license permits JANAF to continue transporting oil to the Pancevo refinery, operated by NIS. JANAF expects to obtain the necessary approvals shortly, ensuring fulfillment of its contractual obligations with NIS.
Serbian Minister of Mining and Energy, Dubravka Djedovic, confirmed the official notification of the extension until 28 April. She stressed the importance of utilizing this time to secure and process as much oil as possible, while noting that the new license allows NIS to continue supplying the market and engaging with American entities, financial institutions, and individuals. However, Djedovic pointed out that the sanctions have already had an effect, with some customers turning to alternative suppliers.
This marks the second consecutive 30-day extension of the sanctions deferral.
