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Serbian President Aleksandar Vucic stated that the NIS refinery in Pancevo has not been shut down yet, but has shifted to a lower operational mode, so-called "silent operation".
25.11.2025. 12:12
He added that Serbia has four days left before the refinery completely halts operations if it does not receive a license from the U.S. OFAC.
"We want to inform you that the NIS refinery is currently in the technological process of so-called hot circulation, or to put it simply, a type of silent operation. It has not been closed yet, it has not been shut down, but it is already functioning at a reduced level compared to normal", Vucic said, asking OFAC to be fair and grant Serbia an operational license.
According to him, Serbia has four more days before the complete shutdown of the refinery unless the license is approved by the U.S. OFAC, that is, the U.S. government.
"We had hoped and expected to receive that license yesterday. However, from many conversations we had last night and after midnight, because of the six-hour time difference with the U.S. East Coast, in discussions with various American partners, we came to the conclusion that there are still things they want to hear, see, and receive, in order to consider and potentially make a positive decision on granting an operational license for the next 45 or 60 days", Vucic said.
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AutorHe said he was addressing the public today because Serbia is facing serious problems.
"As the state leadership, as people elected by the citizens of Serbia, we want to act in a transparent and responsible manner toward our people, toward our citizens, always and at every moment telling the truth and explaining what is currently happening", Vucic said.
He reminded that Thursday is a holiday in the United States-Thanksgiving Day.
"So today or tomorrow we might be able to change something. If Thursday comes, the refinery will shut down", Vucic added.
The Petroleum Industry of Serbia (NIS) submitted a new request on November 18th to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) for a special license that would allow the company to continue operating without interruption.
Under the previous license issued on November 14th , valid until February 13th , 2026, shareholders and other interested parties were permitted to negotiate changes in NIS’s ownership structure.
The United States imposed sanctions on NIS on October 9th due to its majority Russian ownership.
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