Naftna industrija Srbije (NIS) has submitted an official request to the U.S .Department of the Treasury's Office of Foreign Assets Control (OFAC) for the postponement of sanctions. This request is supported by both the Serbian and Hungarian governments. The request concerns obtaining general or special licenses that would allow NIS to continue operating while an acceptable solution to its ownership structure and management is pursued, with the aim of ensuring that a company that is crucial to regional and strategic energy stability can continue its operations.
Djedović Handanović: NIS Submits Request to OFAC Seeking Postponement of Sanctions
4 February 2025
The Government of the Republic of Serbia supports the request for issuing such a license to NIS because sanctions would impair the company's ability to supply oil and petroleum products to Serbian citizens.
Given the importance of NIS to the Serbian and regional economies, we urgently request that OFAC consider providing immediate assistance in the form of a suspension of sanctions for a minimum of 90 days, while a sustainable solution is explored that would lead to the lifting of sanctions.
NIS employees and citizens have no reason to worry, as the state leadership will continue to protect Serbia's interests, as it has done in the past.
We would like to remind you that U.S. officials have repeatedly clearly reiterated that the sanctions are not directed against Serbia or its citizens. Therefore, we remain hopeful for a constructive continuation of the dialogue, so as to ensure the energy stability of Serbia and the entire region is not disrupted.
Dubravka Djedović Handanović
Minister of Mining and Energy, Head of the Working Group for Monitoring the Activities of the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) Regarding Potential Sanctions on NIS.
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13 January 2025The Working Group on NIS held its first meeting
