Sanctions on NIS postponed again, this time for two months

The Oil Industry of Serbia (Naftna industrija Srbije – NIS) has confirmed that the US Department of the Treasury has issued a new special license, which postpones the full scope of sanctions against the domestic energy company until June 27, 2025.

The new license allows the NIS company to smoothly maintain business, contracts and other agreements involving NIS or its subsidiaries, the execution of all transactions aimed at the fulfillment of contracts, alienation or transfer (including the alienation or transfer of debt or capital) to a person not from the US, as well as “official affairs of diplomatic or consular missions outside the Russian Federation involving NIS or its subsidiaries.”

– This license enables the company to carry out its operational activities unhindered until June 27. NIS thanks the Government of Serbia and all other domestic and foreign institutions that supported the request sent to the US Department of the Treasury – it is stated in the announcement.

The company reminds that in March it submitted a request for the removal of NIS from the so-called SDN list (Specially Designated Nationals), that is, the list of entities that are under US sanctions.

– NIS points out that it respects the laws of Serbia and other countries in whose markets it operates, as well as that its operations did not contribute to the introduction of sanctions that threaten the company’s work and the social stability of more than 13,000 employees – the announcement states.

It is added that in the coming period the NIS company remains committed to preserving stability on the domestic market, continuing the investment cycle and preserving the social stability of the employees.

Early that morning, the President of Serbia, Aleksandar Vucic, announced that the sanctions against NIS had been postponed again.

– Good news for citizens of Serbia. Serbia managed to obtain a new postponement of sanctions for NIS, this time for two months, until June 27. I want to thank our American partners for understanding Serbia’s position – Vucic stated on his Instagram account.

Previously, NIS announced in the middle of this week that it submitted a new request to the US Department of the Treasury for the issuance of a special license that postpones the full implementation of the announced US sanctions from April 28 of this year.

The goal of this request is also to enable the company to operate smoothly even after April 28, which is the deadline stipulated in the license issued on March 28 of this year.

Predsedništvo Republike Srbije

NIS a.d. Novi Sad

President of Serbia

Naftna industrija Srbije

NIS

Aleksandar Vučić

sanctions