The U.S. Department of the Treasury has issued a new special license delaying the full implementation of sanctions against Serbia’s oil company NIS until July 29, 2025. This marks the fourth extension since sanctions were first announced on January 10 due to the company’s Russian ownership.
The license allows NIS and its subsidiaries to continue regular operations, fulfill contracts, manage debt and equity transfers (excluding U.S. entities), and support diplomatic functions outside Russia. NIS expressed gratitude to the Serbian government and reiterated its compliance with Serbian and international laws.
Energy Minister Dubravka Đedović Handanović called the delay “good news for Serbian citizens,” emphasizing that it ensures fuel supply and price stability amid ongoing geopolitical tensions. She credited intense diplomatic efforts and support from countries like Hungary for the extension.
NIS has also submitted a request for removal from the U.S. Specially Designated Nationals (SDN) list and remains focused on uninterrupted supply and job security for its 13,000 employees.
