Sanctions on NIS postponed until April 28

The US Department of the Treasury has issued a new special license which postpones the full application of sanctions against the company Naftna industrija Srbije until April 28. This decision allows the company to continue its operational activities without obstacles until the deadline expires or the sanctions are potentially lifted, NIS announced.

NIS thanked the Government of the Republic of Serbia and all the institutions that supported the request sent to the US Department of the Treasury.

In March, they added, the company submitted a request to be removed from the SDN list (Specially Designated Nationals), emphasizing that it operates in accordance with the laws of Serbia and other countries and that it did not contribute to the introduction of sanctions that could threaten the company’s work and the existence of more than 13,000 employees.

The new license enables NIS to smoothly carry out key activities, including maintenance of existing contracts, execution of transactions, capital transfers and diplomatic affairs outside the Russian Federation.

The company emphasized that it remains committed to the stability of the domestic market, the continuation of investments and the preservation of employment, with the readiness to continue cooperation with the US Department of the Treasury regarding the request to be removed from the list of sanctions.

JANAF also receives OFAC license to transport oil to Pancevo refinery

The company JANAF d.d. announced that, with the help of American lawyers and in coordination with the Government of the Republic of Croatia, it obtained a license for 30 days from the Office of Foreign Assets Control of the US Department of the Treasury (OFAC). This license enables the continuation of oil transportation for the Pancevo refinery, which is owned by the NIS company.

According to JANAF, it is expected that in the coming period, conditions will be created for obtaining all the necessary consents, which would enable the continuation of contractual obligations towards NIS.

Let us remind that first the President of Serbia, Aleksandar Vucic, announced that the application of American sanctions on NIS has been postponed for another 30 days.

– We received a new 30-day suspension of sanctions for NIS. I want to thank all the people in Serbia who fought and say thank you to our American partners for their understanding – Vucic announced on Instagram.

The Minister of Mining and Energy, Dubravka Djedovic Handanovic, confirmed that the official confirmation of the US delaying the sanctions on NIS until April 28 has arrived.

– We should use this respite in the best way, to contract, deliver and pay for as much oil as possible – she told RTS.

She pointed out that NIS received a new license from the USA so that it can continue to operate and supply the market, which allows it to do business with American companies, financial institutions and citizens.

– Sanctions against NIS have already been felt because certain customers switched to other suppliers – said Djedovic Handanovic.

This is the second postponement of sanctions for 30 days each.

Predsedništvo Republike Srbije

NIS a.d. Novi Sad

Ministarstvo rudarstva i energetike Republike Srbije

president of Serbia

Naftna industrija Srbije

NIS

Ministry of Mining and Energy

JANAF

Dubravka Đedović Handanović

Aleksandar Vučić

sanctions