Serbian Government Submits Renewed Request to OFAC for Extension of NIS Sanctions Waiver

The Government of Serbia has submitted a renewed request to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), supporting Naftna Industrija Srbije’s (NIS) appeal to extend its current license to operate—set to expire on July 29—for an additional 180 days. This was announced by Dubravka Djedovic Handanovic, Serbia’s Minister of Mining and Energy, in an official statement from the ministry.

"Over the past month, and consistently since January when the potential U.S. sanctions against NIS were first announced, we have firmly maintained our position that such measures would severely impact Serbia’s and the region’s energy security. We have emphasized to U.S. authorities that sanctions would bring substantial negative consequences for our country, citizens, and economy. Serbia has done nothing to warrant these sanctions, and we have once again presented all relevant facts to the American administration, including the risks involved and the measures being taken to align NIS with ownership-related conditions concerning Gazprom Neft," the Minister stated.

Given NIS’s strategic importance to the Serbian economy and its role in ensuring continuity of operations, Minister Djedovic Handanovic warned that sanctions would significantly threaten industrial performance and regional energy stability. She added that a 180-day extension would support the procurement of crude oil for the Pančevo refinery on commercially viable terms and help maintain energy supply stability across Serbia and neighboring countries.

"The Serbian Government remains committed to finding a permanent and sustainable solution for NIS, in cooperation with U.S. and Russian partners, to ensure the continuous and secure supply of crude oil and the uninterrupted operation of the Pancevo refinery—our most critical asset for supplying energy to both households and businesses," the Minister added.

She also expressed appreciation to the Government of Hungary for its ongoing support in identifying a long-term resolution for NIS.

"Hungary has consistently backed Serbia’s requests for NIS license extensions, and we are grateful for the continued support of our strategic energy partner," she concluded.

Ministarstvo rudarstva i energetike Republike Srbije

NIS a.d. Novi Sad

NIS a.d. Petrol Rafinerija nafte Pančevo

Ministry of Mining and Energy

Oil Industry of Serbia ad Novi Sad

NIS

OFAC

Pancevo Oil Refinery

Gazpromneft

NIS sanctions

NIS sanctions postponement