NIS requests delay of US sanctions beyond April 28

The goal is to ensure uninterrupted business operations beyond April 28, when the current license issued on March 28 expires, the company said.

NIS noted that on March 14, it filed a separate request with the US Treasury Department to be removed from the SDN list (Specially Designated Nationals), which targets individuals and entities deemed to be involved in activities subject to specific sanctions programs.

The company emphasized that, despite the challenging circumstances, it remains committed to maintaining a steady supply of all types of petroleum products to the domestic market and preserving job security for its employees in the coming period.

NIS pledged to keep the public promptly informed about any developments that could impact its operations.

The full enforcement of US sanctions against NIS was previously deferred for 30 days, with that grace period expiring on April 28.

This was the second time the US delayed sanctions at NIS’s request, with support from the governments of Serbia and Hungary, as well as a Croatian company operating the JANAF oil pipeline.

NIS landed on the US Treasury’s sanctions list, announced on January 10, due to its ownership stake held by Russia’s Gazprom Neft.

The company faces sanctions because of its so-called “secondary risk” tied to Gazprom Neft, which is under Western sanctions stemming from Russia’s invasion of Ukraine.

NIS is the only company in Serbia engaged in oil and gas exploration, production, and refining.