NIS submits new, amended request for postponement of sanctions

Naftna industrija Srbije (NIS) has submitted a new amended request for a postponement of US sanctions to the administration in Washington, RTS reported. NIS is seeking a new license so that it can continue its business operations after Wednesday, October 8, when the previous postponement of the full implementation of sanctions imposed by the United States due to the majority Russian ownership in the company expires.

So far, the sanctions have been postponed eight times: six times for a month, then at the end of September for only four months, until October 1, and finally for another week.

Earlier this month, NIS also repeated its request to be removed from the sanctions list, in which it allegedly offered to sell 11.3 percent of its shares, as well as an obligation to buy a certain amount of crude oil from the United States.

On September 28, NIS submitted an amended request for removal from the SDN (Specially Designated Nationals) list, which is a lengthy and complex process, and the initial request was sent on March 14 of this year, the oil company said in a statement.

NIS a.d. Novi Sad

Naftna industrija Srbije

NIS

US sanctions

amended request for postponement of sanctions

license