US sanctions against Petroleum Industry of Serbia come into force, these are payment methods at gas stations

Photo: Shutterstock

Petroleum Industry of Serbia (NIS) has informed the public that, to date, it has not been granted the special license from the US Treasury Department, which enables uninterrupted operational business.

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Since it was included on the Specially Designated Nationals (SDN) List in January, NIS has been closely monitoring the situation and making every effort to adapt its operations to the new circumstances, the company announced.

A statement added that NIS remains committed to its priorities of maintaining a regular supply of petroleum products to the domestic market and ensuring the social stability of its employees.

NIS currently has sufficient crude oil reserves for refining and maintains a regular supply of all types of petroleum products to its petrol stations.

If foreign payment cards (Master Card, Visa) are no longer supported at NIS petrol stations, clients will be able to use the Serbian Dina card, cash, or the IPS instant payment method.

Clients will still be able to use and pay with the Sa Nama Na Putu, Agro, and Taxi cards, NIS stated.

Photo: Shutterstock

Payment for wholesale transactions will still be accepted in dinars, ensuring that NIS remains a reliable partner, fulfilling its contractual obligations to its partners, including corporate clients and large consumers.

The company said it is working to resolve the current situation in collaboration with its partners, the Government of the Republic of Serbia, and its shareholders.

"NIS continues communication with the US Department of the Treasury regarding its delisting request. The initial request was submitted on March 14, and then updated on September 28 of this year. However, delisting is a complex and lengthy process," the statement said.

The company continues to closely monitor the current situation and will promptly inform the public of any new circumstances that may impact its operations.

US sanctions against Petroleum Industry of Serbia (NIS) have been postponed several times so far. The first delay came at the beginning of the year, shortly after the company was placed on the SDN list.

Subsequent license extensions followed in February, April and June, each lasting several weeks or months, while the last decision to extend the license was made in early October.

(Telegraf Biznis)