OFAC extends NIS operating license until December 11

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued a new operating license to Naftna industrija Srbije (NIS), extending it until December 11. This allows the company to continue its business operations and enables the continued functioning of the Pancevo Oil Refinery.

On October 24, NIS submitted a new request to the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) for a specific license to ensure the company's operational activities can proceed without interruption.

The previously issued OFAC license was set to expire on Friday, October 30.

JANAF's license for business with NIS also extended until December 11

The Croatian company Jadranski naftovod (JANAF) has announced that it has received a further extension of a U.S. license, allowing it to continue business operations with NIS until December 11, reports Beta.

– This new extension confirms that JANAF operates responsibly, transparently, and in full compliance with the international sanctions and regulatory framework – the company stated in a press release.

JANAF's management emphasizes that, as an operator of strategic energy infrastructure, the company continues to provide reliable service to its partners and makes a significant contribution to the security and stability of supply in Croatia and Europe.

According to the statement, the license from the U.S. Office of Foreign Assets Control (OFAC) permits the continued execution of contractual activities with NIS a.d. until December 11, in accordance with the applicable sanctions regime.

– The extension of the license was secured in cooperation with the Government of the Republic of Croatia and with the support of American legal experts specializing in international sanctions – states a press release from JANAF.

NIS a.d. Novi Sad

NIS a.d. Petrol Rafinerija nafte Pančevo

Government of Croatia

US Department of the Treasury

Office of Foreign Assets Control

OFAC

Naftna industrija Srbije

NIS

Pančevo Oil Refinery

Janaf

NIS license extended

Janaf license extended