Sanctions on NIS Postponed for Fifth Time

The U.S. Department of the Treasury has decided to postpone the enforcement of sanctions against the Petroleum Industry of Serbia (NIS) for the fifth time, this time for a period of 30 days, according to a statement from Serbia’s Ministry of Mining and Energy.

Minister Dubravka Djedovic Handanovic emphasized that securing a longer postponement was not possible at this stage, citing the issue as part of broader global geopolitical dynamics and complex negotiations among world powers.

- Thanks to previous postponements, Serbia has so far managed to avoid becoming collateral damage, but the situation remains highly uncertain. We will continue to defend the interests of our citizens and economy, said the Minister.

She added that concrete measures are being taken to reduce operational uncertainty for NIS. Among them, the Government of Serbia has exercised its authority by appointing new members to the NIS Board of Directors on July 24.

Notably, this marks the first time a Vice Chairman has been appointed to the Board—a government-nominated position.

In addition, the process of selecting two independent board members is currently underway, with the aim of complying with the requirements of the U.S. Office of Foreign Assets Control (OFAC) regarding corporate governance at NIS.

Minister Djedovic Handanovic also expressed gratitude to the Government of Hungary for its support of NIS.

- The government’s top priority is ensuring a stable supply of petroleum products, while the ultimate objective is to secure NIS’s removal from the OFAC sanctions list. Achieving that will depend above all on progress in the dialogue between the United States and Russia, she concluded.

Ministarstvo rudarstva i energetike Republike Srbije

NIS a.d. Novi Sad

US Treasury Department

Serbian Ministry of Mining and Energy

Petroleum Industry of Serbia

NIS

Dubravka Djedovic Handanovic