Full implementation of sanctions against NIS postponed until June 27, 2025 by the special license from the US Department of the Treasury

The U.S. Department of the Treasury has extended the duration of the special license postponing the full implementation of sanctions against NIS until June 27, 2025. This license allows the company to continue its business without interruption until that date.

NIS thanks the Government of the Republic of Serbia and all other domestic and foreign institutions that supported its petition for the removal from the Specially Designated Nationals list submitted to the US Department of the Treasury in March. NIS hereby emphasizes that it respects the laws of the Republic of Serbia and other countries in which it operates, and has not in any way contributed to the imposition of sanctions that jeopardize the company’s operations and the social stability of more than 13,000 employees.

This new license allows NIS to carry out the following activities:

• Maintenance of operations, contracts and other agreements involving NIS or its subsidiaries,
• Execution of any transactions aimed at the fulfillment of contracts with NIS and its subsidiaries,
• Disposal or transfer, or facilitation of the disposal or transfer of debt or equity issued or guaranteed by NIS or its subsidiaries (Covered Debt or Equity) to non-US persons,
• Official activities of diplomatic and consular institutions outside of the Russian Federation including NIS or its subsidiaries.

In the upcoming period, NIS will remain committed to maintaining stability in the domestic market, continuing the investment cycle, and preserving the social stability of its employees. NIS is ready for the consistent cooperation with the US Department of the Treasury regarding the submitted petition for its removal from the Specially Designated Nationals list. NIS shall inform the public about any new circumstances that may affect its operations in a timely manner.