Neftna Industrija Srbije (NIS) will submit an application to the Office of Foreign Assets Control (OFAC) of the US Treasury Department for the extension of its operating license after June 16. This was announced by the Serbian Minister of Mining and Energy Dubravka Djedovic-Handanovic after a meeting with the CEO of „Gazprom Neft“ Alexander Dyukov in St. Petersburg.
„The parties confirmed their intention to find a solution to the situation related to the sanctions imposed on NIS, emphasizing that they are close to an agreement with the Hungarian company MOL. NIS will submit a new request to OFAC to extend its operating license, which expires on June 16,“ the agency's press service said in a statement.
On January 19, “Gazprom“ and the Hungarian concern MOL announced that they had signed a letter of intent to sell a stake in NIS. The Serbian authorities announced an increase in their stake in the company by 5%, which will allow Belgrade to influence certain decisions at the shareholders' meeting. MOL is also in talks with ADNOC from the UAE to join NIS as a minority shareholder.
The owners of NIS are forced to sell their assets due to US sanctions. In January 2025, the US Treasury Department added the Serbian company to the sanctions list along with its majority shareholder “Gazprom Neft“. After several delays, the restrictions came into effect on October 9 of the same year. On November 11, 2025, the Serbian Ministry of Energy announced that the Russian owners of NIS had notified the United States of their readiness to transfer control of the company to a third party.
OFAC issued an operating license to NIS until June 16, 2026. The US Treasury Department also extended the deadline for negotiations to purchase a controlling stake in the Serbian company until June 6 of this year. Earlier on Wednesday, the Hungarian company requested an additional 30 days from the United States for negotiations on NIS.