NIS and Janaf have been granted an extension of sanctions relief

The US Department of the Treasury issued a new special license that delays the full implementation of sanctions against the Serbian oil and gas company, NIS, until June 27, 2025.

In its announcement, the company reminds that it submitted a request in March to be removed from the Specially Designated Nationals (SDN) list. NIS also emphasises that it complies with the laws of Serbia and other countries where it operates, and that its activities did not contribute to the sanctions, which threaten the company’s operations and the social stability of its employees.

The new license allows NIS to maintain business, contracts, and other agreements, and also enables transactions with NIS and its operating subsidiaries to fulfil the contracts. It allows the transfer of debt or capital issued or guaranteed by NIS or its operating subsidiaries to a non-US person. Official business or diplomatic missions outside the Russian Federation involving NIS or its subsidiaries can also be conducted.

The company also highlights its continued cooperation with the US Department of the Treasury regarding its request for removal from the SDN list.

The Croatian oil transport company, Janaf, has also been granted an extension of sanctions relief until June 27, in connection with its contract with NIS to transport a total of 10 million tons of crude oil until the end of 2026.

As the company notes, with support from the Croatian Government and through an American law firm, Janaf’s sanctions relief has already been extended twice: first on February 27, when the sanctions were initially set to take effect, and again on March 28, extending the relief until April 28, enabling Janaf to continue oil deliveries to NIS.