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By:
Radio Free Europe
- 1 January 2026 14:47
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The United States of America has extended the operating license of the Oil Industry of Serbia (NIS) until January 23, announced Serbia's Energy Minister, Dubravka Gjedovic Handanovic.
"This means that the refinery in Pancevo will be able to continue operating after 36 days," she wrote on Instagram on December 31, 2025.
Since the beginning of October, Serbia's largest oil company, NIS, has been under sanctions by the US Treasury Department's Office of Foreign Assets Control (OFAC) due to its majority Russian ownership.
Due to the inability to import crude oil, the Pančevo Refinery, the only one in Serbia, was closed on December 2.
JANAF: We are ready for uninterrupted supply to the refinery
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The US again extends NIS's operating license
Due to US sanctions, the transport of oil through the JANAF oil pipeline from Omiš to Pancevo was also interrupted, oil which is sent to NIS from Croatia by ship.
On December 31, JANAF announced that the US administration has issued a license to continue oil transportation to NIS, which will be valid until January 23, 2026.
"JANAF, in cooperation with the Government of Croatia, has received a license that allows until January 23, 2026, to participate in activities that are customary and necessary for the transportation of oil in fulfillment of the agreement for the transportation of crude oil with the company NIS," the company's announcement states.
JANAF welcomed OFAC's decision and emphasized that it is "fully ready to immediately ensure uninterrupted transportation and supply of crude oil to the Pancevo refinery."
“We also hope for the speedy conclusion of negotiations between NIS and potential partners for the acquisition of the Russian share in this company, thus fulfilling the conditions set by the sanctions regime,” JANAF announced.
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US extends sanctions on Serbia's NIS
RTS: Negotiations with Hungarian MOL could be completed by January 23
The US insists that Russian companies exit the ownership of NIS, whose share is currently 56.2%.
Radio Television of Serbia (RTS), citing unidentified sources, has reported that negotiations between Russian NIS shareholders and the Hungarian company MOL could be completed by January 23.
Serbian officials had previously announced that these negotiations were underway.
Russian President Vladimir Putin stated on December 19 that Russia "has ideas" on how and in what direction the issue of Serbia's Oil Industry could be resolved and that such a dialogue with Serbia is underway.
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Vučić: The condition for the buyer of NIS is that the refinery continues to operate
US authorities in late December extended the deadline for the Serbian Oil Industry to sell its Russian ownership. However, this decision does not authorize NIS to operate during negotiations to find a potential new major owner.
The purpose of the sanctions against NIS is to prevent Russia from using revenues from the energy sector to finance the invasion of Ukraine.
