The Office of Foreign Assets Control of the US Department of the Treasury (OFAC) has issued a new operational license to the Petroleum Industry of Serbia. The license has been extended until June 16.
Minister of Mining and Energy Dubravka Đedović Handanović said that the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury extended the operational license for the Petroleum Industry of Serbia until June 16.
“We received good news from the USA that the operational license for NIS has been extended for 60 days, which is very important for more stable planning of crude oil purchases, the secure operation of the refinery in Pančevo, and a reliable supply of petroleum products in the country. This extension represents a positive signal of progress in the negotiations regarding the change of ownership between the Hungarian MOL and the Russian Gazprom Neft. For our state, the most important thing is for NIS to continue with stable operations, preserve jobs, and contribute to Serbia’s energy security,” said Đedović Handanović, adding that the primary goal for the state is for NIS to be permanently removed from the US sanctions list so that the company can realize long-term crude oil procurement, while the second goal is to increase Serbia’s ownership share by five percent, which will provide greater opportunity for management control and influence in the company.
She pointed out that the state managed to preserve the stability of supply for all energy sources at affordable prices despite the difficult operations of NIS in the previous year and a half, the fact that crude oil did not reach Serbia for nearly 100 days, as well as the largest energy crisis the world has faced due to the situation in the Middle East.
“Also, the top management of MOL will be in Belgrade on Saturday, and operational teams starting Tuesday, so that we can discuss all the details,” stated the minister.
Đedović Handanović also added that the public will be informed of every significant step in the coming days and weeks.
On April 9, the NIS company requested a new special license from OFAC that would enable the smooth performance of the company’s operational activities even after April 17, when the validity of the previous license issued on March 20 expires.
Minister of Finance Siniša Mali stated in Washington on Thursday that he expects the extension of the operational license for the continued work of the Petroleum Industry of Serbia to arrive from OFAC by the end of the day, and announced that representatives of MOL will be in Belgrade today or Saturday to finalize the necessary negotiations regarding the Hungarian takeover of the Russian stake in NIS.
The US administration has, otherwise, extended the license for negotiations between “Gazprom Neft” and MOL regarding the sale of the Russian majority ownership in the company until May 22.
OFAC imposed sanctions on NIS on October 9, 2025, precisely because of the majority Russian ownership.
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Source: RTS, Photo: nis.rs