The Office of Foreign Assets Control (OFAC) has issued a new license to the Petroleum Industry of Serbia (NIS), allowing negotiations for the sale of the Russian stake with an extended deadline until March 24. At the same time, OFAC has not authorized NIS to conduct business during this period.
24.12.2025. 18:10
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The new license, permitting negotiations for the sale of the Russian stake, was issued to NIS by the Office of Foreign Assets Control (OFAC) with an extended deadline until March 24.
OFAC has not authorized NIS to operate during this period, reports RTS.
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AutorPresident of Serbia Aleksandar Vucic stated that the extension of the license for negotiations with the Russian side until March 24 does not mean much for Serbia, as the supply issue needs to be resolved quickly.
More than two months have passed since the start of U.S. sanctions on the Petroleum Industry of Serbia, and the Pancevo oil refinery ceased crude oil processing on November 25.
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