US Grants Special License to Serbian NIS Until January 23

The US has granted a special license to the Serbian oil company NIS, which is controlled by Russian companies, to continue its operations until January 23. The license allows NIS to restart its refinery in Pancevo.

Serbian Minister of Energy, Dubravka Djedovic Handanovic, announced that NIS received a license from OFAC (Office of Foreign Assets Control) of the US Treasury Department.

Washington had imposed sanctions on NIS on October 9, accusing it of financing the Russian invasion of Ukraine, as it is 56% controlled by the Russian companies Gazprom Neft and Intelligence. The refinery in Pancevo, which covers approximately 80% of the Serbian market, was forced to suspend operations in early December.