Serbia: NIS again requests postponement of US sanctions
Express newspaper
04/10/2025 14:58
On October 3, shortly before midnight, the Oil Industry of Serbia (NIS) made a new request to the United States administration for a postponement of American sanctions.
As stated in the company’s statement, NIS has sent the US Treasury Department “a new request for the issuance of a special license, which will enable the company to operate after October 8”, the date when the previous license expires.
“On September 28, NIS submitted a request for removal from the sanctions list, a long and complex process, and the initial request was sent on March 14 of this year,” the statement said.
So far, the sanctions have been postponed eight times.
The United States placed the NIS, which is largely Russian-owned, on a sanctions list in January due to the so-called collateral damage.
The sanctions, among other things, prevent Moscow from financing its war in Ukraine through money it secures from Russian energy companies.
Although the ownership structure of NIS has changed several times, its largest share is still owned by Russian companies.
Gazprom withdrew from NIS in September and another Gazprom-controlled company – St. Petersburg Intelligence – became one of the main owners, with 11.3 percent of the shares.
The majority of shares in NIS are held by Gazprom Neft, a subsidiary of Gazprom, around 44.9 percent, while the state of Serbia owns 29.9 percent of the shares.
The rest of the shares are held by smaller companies. /REL/