Minister Djedovic Handanovic: NIS has submitted request to OFAC for extension of operating license

Minister of Mining and Energy Dubravka Djedovic Handanovic said today that NIS (Petroleum Industry of Serbia, which is under US sanctions) has submitted a request to OFAC, i.e. to the US administration, that, if granted, would allow the company to continue with operations as further discussions are being held in order to successfully complete the agreed upon transaction between Gazprom Neft and MOL.

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She added that after the transaction has been completed, Serbia could increase its share in NIS by 5 percent and that it is expected that partners from the United Arab Emirates will take a minority share within the 56.15 percent that MOL intends to acquire.

Clarifying how far things have progressed in solving the NIS problem, the minister said that there is still no acquisition contract, "instead we are currently dealing with the basic provisions of future contracts."

"There is still a lot of work to be done in order to agree on the entire contract. However, what is important is that the Russian majority owners, meaning Gazprom Neft and NIS, have agreed on the basic principles and that NIS has submitted requests to OFAC," Djedovic Handanovic told RTS this morning.

(Telegraf.rs/Tanjug)