OFAC extends NIS operating license until April 17

The Office of Foreign Assets Control (OFAC) of the US Treasury Department has extended the operating license of Naftna industrija Srbije until April 17, 2026, the Ministry of Mining and Energy announced.

Minister Dubravka Djedovic Handanovic said that the license extension was especially important at the time when oil prices were jumping on the stock exchanges from day to day.

– The refinery in Pancevo continues to operate and supply will remain reliable. Citizens should not worry, there is no need to stock up, we have enough oil products – the minister stated.

She emphasized that there had been no shortages on the market, despite the fact that NIS’s operations had been difficult for more than a year, as well as the fact that crude oil had not arrived in Serbia for almost 100 days.

– Now the situation is additionally complicated by the conflict in the Middle East. A series of measures are being taken all over the world, especially in Europe, to maintain a stable supply of oil. We have also reduced excise duties by 20% and made a decision to release 40,000 tons of Eurodiesel from reserves, but we will also implement other measures to maintain a stable supply – Djedovic Handanovic stated.

NIS a.d. Novi Sad

Ministarstvo rudarstva i energetike Republike Srbije

Naftna industrija Srbije

OFAC

Ministry of Mining and Energy

Dubravka Đedović Handanović

sanctions on NIS

NIS license