On September 25, the US Treasury Department issued a new special license allowing NIS to carry out operational activities until October 1, 2025 at the latest. On March 14, NIS also submitted a request to the US Treasury Department to remove the company from the SDN list (Specially Designated Nationals), which is a lengthy and complex process.
In such conditions, the company is trying to adapt its operations to the new circumstances and the priorities remain to maintain stability in the domestic oil products market, as well as to maintain social stability for employees. The company has secured sufficient supplies of crude oil for processing, as well as sufficient quantities of oil products to supply the market at this time. The company’s petrol stations are properly supplied with all types of oil products and are ready to meet consumer needs.
NIS complies with the laws of the Republic of Serbia and other countries in whose markets it operates and has not contributed to the introduction of sanctions through its operations that threaten the company’s operations and the social stability of more than 13,000 employees. NIS will continue to monitor changes and regularly inform the public and its employees about all significant changes. NIS also continues to cooperate with the US Treasury Department on the request for removal from the sanctions list and license extension, as well as cooperation with shareholders on resolving the newly created situation.
