Business News
On December 31, the United States Department of the Treasury issued a special license for NIS allowing it to resume operations until January 23, 2025. The licence allows NIS to maintain operations, contracts and other agreements regarding NIS and its affiliated companies, including resuming refinery operations, importing crude oil, and carrying out transactions essential for supply security and technical maintenance.
The sanctions of the U.S. Department of the Treasury against NIS initially came into full effect on October 9, 2025. The Office of Foreign Assets Control of the Department of the Treasury also issued a licence valid until March 24, 2026, allowing the company’s shareholders and other stakeholders to negotiate changes in the ownership structure. On September 28, 2025, NIS, in turn, submitted a supplemented petition for removal from the Specially Designated Nationals List, which, however, is a lengthy and complex process.
NIS hereby expresses its gratitude to the state bodies of the Republic of Serbia and all domestic and foreign partners who supported this process. The company’s reliable operation is crucial for the energy stability of the Republic of Serbia and the normal supply of the Serbian petroleum products market.
