NIS receives new special license from US Treasury Department to continue operating until July 1

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The US Treasury Department on Tuesday issued a new special license that allows NIS (Petroleum Industry of Serbia) to continue operating until July 1, 2026, the company has announced.

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NIS said that this license allows for the maintenance of business operations, contracts and other agreements involving NIS or its operating subsidiaries, including refining activities, crude oil imports, the execution of transactions necessary for the security of supply and technical maintenance, as well as financial settlements.

The company expressed its gratitude to all domestic and foreign partners who supported this process. Smooth operation of NIS is of great importance for Seribia's energy stability.

The previous operating license issued by OFAC was valid until June 16.

On June 6, the Hungarian company MOL received an official license from OFAC to continue negotiations to buy the Russian majority stake in NIS, which also expired on June 16.

The agreement between MOL Group and Gazprom Neft on the acquisition of a 56.15 percent stake in NIS is still being finalized, the Serbian Ministry of Mining and Energy announced earlier.

The US imposed sanctions against NIS on October 9, 2025 because of the majority Russian ownership in the company.

(Telegraf.rs/Tanjug)