United States extend NIS operating licence until 11 December, targeting sanctions due to ties with Russia
The extension allows Serbian company NIS to keep importing crude and operating the country's sole refinery, despite U.S. sanctions on the Russian energy sector. Belgrade remains intent on selling the Russian stake in…
The United States has extended the operating license of Serbian oil company NIS under sanctions until December 11, the company announced Friday, as a new student-backed majority prepares to take power. According to a statement published by the Oil Industry of Serbia (NIS) on its website, the "license allows the maintenance of operations, contracts and other agreements" which are "necessary to ensure supply and technical maintenance". This extension allows NIS to continue importing crude oil and operating the country's only refinery, despite US sanctions targeting the Russian energy sector.
It is the first easing granted to Serbia since Sunday's elections, in which a student-led movement defeated the long-ruling right-wing party and won an absolute majority in parliament. The US Treasury Department's Office of Foreign Assets Control (OFAC) extended the license until December 11, slightly longer than the usual monthly extensions, with the previous license expiring today. Sale of Russian stake to Hungarian MOL group still under negotiation Negotiations on the sale of the 56% Russian stake in NIS to Hungarian energy giant MOL have dragged on for months.
On September 30, Serbia obtained a three-month extension of its gas agreement with Russia and a one-month extension of its operating license. The Balkan country remains heavily dependent on Russian gas but has failed to secure a long-term contract since its previous three-year deal expired in summer 2025, instead relying on short-term extensions. US sanctions, introduced in January 2025, have been repeatedly postponed to allow time for this sale.
Despite its bid to join the European Union, Serbia, under the outgoing government, remained one of the few European countries to maintain close ties with the Kremlin following Russia's invasion of Ukraine. Serbia sold a majority stake in NIS to Gazprom, the Russian energy giant, in 2008 for 400 million euros ($454 million at current exchange rates) and now owns around 30% of the company.
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- BFM Business30 Oct, 20:17
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