OFAC extends NIS license

The US Treasury’s OFAC extended the Serbian Oil Industry (NIS) operating license, the state TV (RTS) said on Tuesday.

It quoted unnamed sources in Washington DC who said that the license was extended to July 1, allowing the Serbian national oil company to process crude at the country’s only refinery in Pancevo outside Belgrade.

Earlier on Tuesday, President Vucic said he had learned that the NIS license would be extended for another 15 days. Mining and Energy Minister Dubravka Djedovic Handanovic is reported to have signed a contract between NIS shareholders and the Hungarian MOL Group on the management of NIS in future. MOL has been negotiating the purchase of the 56.15 percent majority shares in NIS from the Russian Gazpromneft while the Serbian government has been in talks about purchasing another 5 percent share in the company.

NIS was included in the US Treasury’s sanctions against the Russian energy industry on October 9, 2025.