russian oil

Serbia’s NIS Ownership Dispute Highlights Energy Sovereignty and Sanctions Pressure

Serbia’s NIS (Naftna Industrija Srbije) has received a temporary US sanctions reprieve until 1 July, allowing continued imports and processing of crude oil while negotiations continue over ownership restructuring. The reprieve was granted as discussions advance regarding the potential sale of Russian-held shares to Hungary’s MOL Group. The US Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on NIS as part of measures targeting Russia’s energy sector and has required Russian shareholders to divest their holdings. The arrangement has…