BELGRADE – The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has extended the operating license for Serbia’s Oil Industry (NIS) until 17 April 2026, the Serbian Ministry of Mining and Energy announced today.
NIS requested a new special license from OFAC on 12 March, which would allow it to continue its operations smoothly after 20 March, when the current license, issued on 20 February, was set to expire.
Meanwhile, negotiations between the Hungarian company MOL and Russia’s Gazprom Neft over the purchase of the Russian stake in NIS are ongoing, and the plan is to sign a sales agreement on 31 March.
This will require OFAC approval, N1 reports, citing Hungarian pro-government media.
Regarding the new license for NIS, Serbian Minister of Mining and Energy Dubravka Đedović Handanović wrote in a written statement that good news arrived overnight from the United States and that the nearly one-month extension of the license is particularly important at a time when oil prices are rising daily on global markets.
“The refinery in Pančevo will continue operating and supply will remain reliable. Citizens should not worry – there is no need to stockpile, we have sufficient petroleum products,” said Dubravka Đedović Handanović, as reported by FoNet.
She emphasized that there have been no shortages on the market despite NIS facing difficult operating conditions for more than a year, as well as the fact that crude oil had not been arriving in Serbia for nearly 100 days.
“The situation is now further complicated by the conflict in the Middle East. Across the world, and especially in Europe, a range of measures is being introduced to maintain a stable oil supply. We have reduced excise taxes by 20 per cent and decided to release 40,000 tons of Euro diesel from reserves, and we will implement additional measures to keep supply stable,” she added.
The management of the Croatian Adriatic Pipeline (Janaf) also commented on the license issuance.
“With the issuance of a license to Janaf by the US Office of Foreign Assets Control, uninterrupted and secure oil supply continues, in line with the strategic position of the Republic of Croatia as an energy hub for this part of Europe,” the company said in a statement published on its website, according to FoNet.
The management of the Croatian company added that it will continue responsible operations in compliance with international regulations, as well as with the strategic and energy goals of Croatia and the European Union.
