The President of Serbia, Aleksandar Vucic, stated that there is still no confirmation that the U.S. Office of Foreign Assets Control will extend the operating license of NIS beyond March 20.
19.03.2026. 17:09
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Vucic warned that the situation regarding NIS’s license is "very complicated, complex, and difficult".
"You know that tonight, tomorrow morning, or during the night, a decision will be made as a ‘key factor’ regarding the potential extension of NIS’s license by the U.S. OFAC. We have no confirmation that OFAC will make such a decision. We have no confirmation that the decision will be positive, and we do not know whether it will be", Vucic said while answering journalists’ questions in Indjija, where he attended the laying of the foundation stone for the Innovation Center of the Japanese tire manufacturer Toyo Tire.
According to him, "everyone can imagine the scale of problems that would arise if OFAC’s decision is negative".
"In four days, the deadline expires for NIS to be taken over. A commercial agreement must be concluded, in line with what OFAC has stated regarding sanctions on NIS, between the Hungarian company MOL and Russia’s Gazprom. Whether that will happen or not, we have no confirmation. We hope it will", Vucic said.
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AutorThe President of Serbia also announced that he had discussed the NIS issue with partners.
"I also spoke with Hungarian Prime Minister Viktor Orban about everything, but I can tell you more about that later", Vucic added.
It should be noted that the cornerstone has been laid in Indjija for the Innovation Center of the Japanese tire manufacturer Toyo Tire.
As reported by Tanjug, Vucic, Toyo Tire Corporation board member and Executive Officer in charge of the technology sector, Satoru Mori, and a representative of the Embassy of Japan in Serbia, Atsushi Saito, marked the beginning of construction works.
At the ceremony, the President of Serbia stated that Serbia has reasons to celebrate "in a turbulent time that brings new challenges to every country in the world".
"A Japanese proverb says that if you sit on a cold stone for three years, the stone will warm up. This proverb tells us that patience in work, even when it is not very visible, inevitably brings results, and this ancient Japanese wisdom better describes what we are witnessing than my own words", Vucic said.
He recalled that Toyo Tire came to Serbia in 2019 and established its first European manufacturing facility there.
"It thus became a research and development center for the entire European continent. The stone has warmed up. Today, we are laying the cornerstone of a shared vision for the future, the foundation on which Serbia and Japan are building a relationship worthy of two nations with deep respect for tradition and the courage to move forward together", Vucic emphasized.
According to him, Serbia is proud of every Japanese investment project in the country, especially this one.
"Toyo is a company that demonstrates and proves that Serbia is a strategic hub from which markets across different parts of the world can be reached. With 638 employees, an investment worth nearly €383 million, and business revenues exceeding €165 million in 2024", Vucic stated.
The President concluded that Serbia is a symbol of determination, perseverance, and, of course, top quality.
"Ancient Japanese wisdom says that even dust, when accumulated, becomes a mountain. Daily effort cumulatively builds great results. We are particularly pleased that in Indjija there is a research and development center of Toyo for the entire Europe. The new R&D center, into which €29 million will be invested, is a clear message that Serbia possesses the human potential, infrastructure, and ambition necessary for the highest levels of technological development", he concluded.
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