The US Treasury Department has postponed the activation of sanctions on Serbian oil company NIS for an additional 30 days, marking the fifth extension since January.
Serbian Energy Minister Dubravka Djedović noted that securing a further, longer reprieve is currently not possible. She attributed the decision to the broader geopolitical situation and complex negotiations among major global powers.
Thanks to these previous delays, Serbia has so far avoided direct negative impacts, but the future remains uncertain. The Minister emphasized that the Government remains committed to protecting both the national economy and the interests of its citizens.
To mitigate regulatory risks facing NIS, the Serbian Government filled several board vacancies last week, including appointing a government-nominated vice chairman—a new position introduced for the first time.
Simultaneously, efforts are underway to recruit two independent directors to comply with the US Office of Foreign Assets Control’s (OFAC) corporate governance requirements for NIS.
Energy Minister Dubravka Djedović also expressed gratitude for Hungary’s support of the Pančevo refinery. She emphasized that securing a reliable fuel supply remains a top government priority, while the full removal of NIS from the sanctions list depends on progress in US-Russia negotiations.
