Association of Serbian Banks: Banks to suspend transactions with NIS if it does not receive an operating license

Commercial banks in Serbia will suspend transactions with Naftna industrija Srbije (NIS) if the company does not receive an operating license from the US by the scheduled deadline, with the aim of enabling for citizens and businesses a smooth functioning of all banking services and performance of payment transactions, the Association of Serbian Banks announced today.

In a statement, regarding the announcement of the potential introduction of “secondary” US sanctions on the National Bank of Serbia and commercial banks due to business with NIS, it is written that the banks will remain committed to preserving the stability of the country’s financial system.

– The shared priority of all banks in Serbia will remain focused on preserving the financial stability of the system, in full compliance with the decisions of the regulator – the statement reads.

US sanctions on NIS have been in effect since October 9, and were introduced due to the majority Russian ownership in that company.

Udruženje banaka Srbije

Narodna banka Srbije Beograd

NIS a.d. Novi Sad

Association of Serbian Banks

National Bank of Serbia

Naftna industrija Srbije

NIS

commercial banks

suspension of transactions

sanctions

license