Serbian Government sends request to OFAC for new postponement of sanctions on NIS

The Serbian Government has sent a letter to the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury supporting the request of the Oil Industry of Serbia (NIS) to extend the current operating license of NIS for an additional 180 days after June 27, in order to preserve the security of supply of oil and oil derivatives in Serbia and prevent serious negative consequences of the introduction of sanctions on our citizens and economy, announced the Minister of Mining and Energy, Dubravka Djedovic Handanovic.

– Today, Europe and the world are perhaps most faced with uncertainties in the global oil market and a price increase of as much as 20% in the past two weeks, all due to the conflict in the Middle East. Additional disruptions to supply chains, combined with possible sanctions on NIS, could jeopardize Serbia’s energy security in the worst possible way and negatively affect our citizens and the inhabitants of the entire region. We informed representatives of the American administration about all of this and asked for a new postponement of sanctions, i.e. an extension of NIS’s operating license – stated Djedovic Handanovic.

Vlada Republike Srbije

NIS a.d. Novi Sad

Government of Serbia

Naftna industrija Srbije

Oil Industry of Serbia

NIS

sanctions

postponement of sanctions