The U.S. Department of the Treasury issued a new special license on September 25, allowing the company NIS to perform operational activities no later than October 1, 2025. On March 14, NIS also submitted a request to the U.S. Department of the Treasury to remove the company from the SDN list (Specially Designated Nationals), which is a lengthy and complex process.
As stated in the NIS announcement, in such conditions, the company seeks to adapt its operations to the new circumstances, and the priorities remain preserving the stability of the domestic petroleum product market, as well as preserving the social stability of its employees, Blic.rs reports.
“The company has secured sufficient stocks of crude oil for refining, as well as sufficient quantities of petroleum products to supply the market at this moment. The company’s gas stations are regularly supplied with all types of petroleum products and are ready to meet the needs of consumers,” the statement said, adding:
“The NIS company respects the laws of the Republic of Serbia and other countries in whose markets it operates, and its business operations have not contributed to the introduction of sanctions that endanger the work of the company and the social stability of more than 13,000 employees. NIS will continue to monitor changes and regularly inform the public and its employees about all significant changes. Also, NIS continues cooperation with the U.S. Department of the Treasury on the request for removal from the sanctions list and extension of the license, as well as cooperation with shareholders on resolving the newly created situation,” the statement emphasized.
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Source: Nova.rs; Photo: Naftna Industrija Srbije