NIS operating license expires on August 28; PM Macut: No reason to worry

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Prime Minister of Serbia Djuro Macut said today that he hopes that Petroleum Industry of Serbia, NIS, will receive a license from the Office of Foreign Assets Control of the US Treasury Department to continue operations after August 28.

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Macut told Radio Beograd 1 that negotiations on the takeover of Russian ownership in NIS are going well.

Commenting on the current OFAC license expiring on August 28, and NIS submitting a new request for a special license that enables the company's operational activities to be carried out smoothly, Macut said that he hopes that we will receive an answer in the coming days that will enable the operations after August 28.

"As far as Serbia is concerned, there is absolutely no real reason why it should not be accepted, as a request in relation to the state of Serbia. What's important is that the negotiations are ongoing and we hope that will finally lead to some positive outcome, that the Gordian knot related to NIS and supply in general will be resolved," said Macut.

According to the prime minister, what is important for our citizens is that there is no reason to worry and that the state is trying to ensure that supply of oil derivatives is secured.

"This is a very good sign that the state has systematically solved it, because only in the last year, for example, several oil piers have been built. One unit was formed in Smederevo, i.e. a place where we store additional oil reserves. Therefore, it's being worked on. We have continuous reserves of oil and derivatives that are close to the maximum, which is really fascinating for a landlocked country," said Macut.

(Telegraf Biznis/Tanjug)