NIS Officially Requests the U.S. to Postpone Sanctions for at Least 90 Days

The governments of Serbia and Hungary have supported this request.

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U.S. Embassy: Russian Owners of NIS Use Part of the Profits for Aggression, Not for Investing in Serbia's Future

Regarding the announcement that the United States may impose sanctions on the Oil Industry of Serbia (NIS), the U.S. Embassy could not comment on the news but emphasized that the risks of cooperating with Russian companies, especially in the energy sector, have been well-known for a long time.

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The request pertains to obtaining general or specific licenses that would allow NIS to continue its operations while seeking an acceptable solution for ownership structure and management, with the goal of enabling a company that is regionally and strategically important for energy stability to keep operating, as stated in the announcement.

"The Government of Serbia supports the request for the issuance of such a license to NIS because sanctions would undermine the company’s ability to supply the citizens of Serbia with oil and petroleum products," emphasized Djedovic Handanovic.

Foto: Emilija Jovanović

Given the significance of NIS for both the Serbian and regional economies, Handanovic added, "We urgently request that OFAC considers providing immediate assistance, including postponing sanctions for at least 90 days, while a sustainable solution leading to the lifting of sanctions is being explored."

"Employees at NIS and citizens need not worry, as the government will continue to protect Serbia's interests as it has in the past," the Minister emphasized.

It is important to recall that U.S. officials have repeatedly stated that the sanctions are not directed against Serbia or its citizens, and accordingly, we hope for a constructive continuation of dialogue to prevent the disruption of Serbia’s energy stability, as well as that of the entire region, the announcement concludes.

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