US Grants Temporary License to Serbian Oil Company NIS Under Russian Control

The US has granted a temporary license to the Serbian oil company NIS, which is controlled by Russian companies and subject to American sanctions, to resume production until January 23, announced Serbian Minister of Energy Dubravka Djedovic Handanovic.

"NIS has received a license from OFAC allowing it to continue its activity until January 23. This means that the Pancevo refinery will be able to resume operations after 36 days," the minister wrote on Instagram.

After nine months of continuous postponements, on October 9, Washington imposed sanctions on NIS, accusing it of financing the Russian invasion of Ukraine because it is 56% controlled by Russian companies, Gazprom Neft and Intelligence. Its refinery in Pancevo, near Belgrade, which covers almost 80% of the Serbian market, was forced to shut down in early December after Washington did not grant NIS a special permit to import raw materials.

Source: ΑΠΕ-ΜΠΕ