Government requests further postponement of sanctions against NIS

Minister of Mining and Energy Dubravka Djedovic Handanovic said that in the letter sent to OFAC, the Serbian Government supported NIS’s request for the issuance of a new special license by the US Department of the Treasury, which would enable the company to operate without disruption following the expiry of the current license, which has been in effect since 28 March.

She explained that the Office of Foreign Assets Control was asked to extend the special license for at least 90 days, allowing NIS to continue its core business activities while negotiations for a long-term solution are ongoing.

The letter emphasizes that the full application of sanctions would significantly impair the company’s ability to operate and provide energy to the citizens of Serbia, and highlights the importance of NIS for the energy sector, the economy and the functioning of public sector institutions, Djedovic Handanovic explained.

The Minister said that the communication was used to once again point out to the US administration the importance of NIS for the Serbian economy and that the inability of the company to continue its current activities threatens to seriously harm the economy, energy security and stability of Serbia and the region.