OFAC issues NIS an operational license until April 17

(Patria) - The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued a new operational license to the NIS oil company until April 17.

NIS company requested a new special license from OFAC on March 12, which will enable the company's operational activities to continue smoothly after March 20, when the previous license issued on February 20 expires.

The extension of the license for almost a month is particularly important at this moment when oil prices are rising daily on the stock exchanges.

For almost 100 days, crude oil has not been arriving in Serbia, and now the situation is further complicated due to the conflict in the Middle East.

"All over the world, and especially in Europe, a series of measures are being taken to maintain a stable oil supply. We have also reduced excise duties by 20 percent and made a decision to release 40,000 tons of eurodiesel from reserves, but we will also implement other measures to ensure energy security," said the Minister of Mining and Energy Dubravka Đedović-Handanović.

OFAC previously issued a license to shareholders and interested parties for negotiations on changes in the ownership structure of NIS, valid until March 24, 2026.

OFAC imposed sanctions on NIS on October 9, 2025, due to the majority Russian ownership in the company.

Negotiations are underway between Gazpromneft and Hungarian MOL regarding the takeover of the Russian stake in NIS.