Serbia's NIS Seeks Fresh US Waiver as Sanctions Deadline Nears
NIS, which runs Serbia's only oil refinery, has applied for a new US sanctions waiver to keep operating after its current one expires on September 30.
Serbia's NIS, the operator of the country's sole oil refinery, has applied for a fresh waiver from United States sanctions so it can keep operating after its current exemption lapses on September 30.
The company was placed under sanctions by the US Office of Foreign Assets Control last October, as part of wider measures aimed at Russia's energy sector over its invasion of Ukraine.
NIS is majority owned by Russia's Gazprom Neft and Gazprom, which together hold a 56.16% stake. Serbia holds 29.9%, with the remainder in the hands of small shareholders and employees.
A new waiver would let NIS continue importing crude oil until a planned sale of the Russian stake to Hungarian oil and gas company MOL is completed. Washington has pressed for the divestment, and the company has obtained a series of temporary waivers while the transaction is pending.
In a statement, NIS said the uninterrupted operation of the refinery and a stable market supply are of crucial importance for maintaining Serbia's energy stability. The firm supplies up to 80% of the Serbian market.