Russian Owners of NIS Submit Request to OFAC for License Extension After Talks with a Third Party
The Russian owners of the Petroleum Industry of Serbia (NIS) have submitted a request to the U.S. Office of Foreign Assets Control (OFAC) seeking an extension of their operating license, based on negotiations with a third party, announced Minister of Mining and Energy Dubravka Djedovic Handanovic.
She added that the Serbian government has officially supported this request.
In the request, the Russian side stated that it is prepared to relinquish control and influence over NIS to a third party, Djedovic Handanovic wrote on Instagram.
"The Republic of Serbia has officially supported this request. OFAC has already responded with certain comments, and we hope it will state its position during the week. Time is running out, and a solution must be found - but citizens must not suffer or be left without fuel. That must not and will not happen,” emphasized Djedovic Handanovic.
In Serbia and around the world, Armistice Day is commemorated in remembrance of November 11th , 1918, when the Allied Powers signed an armistice with Germany. This marked the end of World War I, the most devastating conflict the world had seen up to that time.
The Central Election Commission (CEC) in Pristina has announced the preliminary results of the second round of municipal elections in Kosovo and Metohija (KiM).
As a reminder, Serbian President Aleksandar Vucic stated on Saturday that he expects, on Monday or Tuesday, to jointly send a letter to OFAC - together with the Russians and other parties identified by the Russian side - requesting that NIS be exempted from U.S. sanctions.
"I expect - and this is the news - that on Monday or Tuesday, together with the Russians and with others the Russian side finds, we will send a letter to OFAC, to the U.S. government, and we expect their response within a month or two, or three, as to whether they will exempt us from sanctions. It is clear that we have begun resolving the issue of management. Whether it will later be necessary to resolve the question of ownership as well remains to be seen", said Vucic.
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The shutdown of production facilities at the Pancevo Oil Refinery has begun due to a shortage of crude oil for processing, which has arisen as a consequence of the sanctions imposed on NIS by the U.S. Department of the Treasury, the company announced.
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Serbian President Aleksandar Vucic stated that Serbia did not receive a positive decision from the United States regarding NIS and that the state has granted permission to shut down the refinery in Pancevo. He said that there are sufficient reserves of all oil derivatives until the end of January.
Minister of Foreign Affairs Marko Djuric met in Washington, during his visit to the USA, with Deputy Secretary of State Christopher Landau, and one of the topics discussed was the preservation of the country’s energy security and the functioning of the Petroleum Industry of Serbia (NIS).
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