NIS has received a new reprieve only until 1 October

On 26 September, NIS’s licence, which granted exemption from US sanctions imposed due to Russian ownership, expired. The company has requested a new licence from the US Department of the Treasury; however, this time it was granted only until October 1. Previously, the company had received six similar short-term reprieves, each lasting about a month.

NIS had submitted a request on 14 March to be removed from the US sanctions list and, as it stated, is now working to adapt to the new situation. Its main priorities remain ensuring stability on the domestic fuel market and protecting the jobs of more than 13,000 employees. The company has secured sufficient reserves of crude oil and petroleum products, and its petrol stations are well stocked to meet consumer demand, its announcement reads.

As NIS underlines, it complies with the laws of Serbia and other countries where it operates, and stresses that its activities have not led to the introduction of sanctions. The company will continue to cooperate with the US Department of the Treasury on the delisting request and licence extension, and work with its shareholders to address the situation.