US extends NIS work license, deadline extended until January 23
The United States has extended the operating license of the Serbian Oil Industry (NIS) until January 23, Serbian Energy Minister Dubravka Gjedovic Handanovic announced. Since early October, Serbia's largest oil company, NIS, has been under sanctions by the US Treasury Department's Office of Foreign Assets Control (OFAC) due to its majority Russian ownership.
Due to US sanctions, the transport of oil through the JANAF oil pipeline from Omiš to Pancevo was also interrupted, oil which is sent to NIS from Croatia by ship.
The US insists that Russian companies exit the ownership of NIS, whose share is currently 56.2%. Serbian Radio and Television has reported that negotiations between Russian shareholders of NIS and the Hungarian company MOL could be completed by January 23. Serbian officials had previously indicated that these negotiations are underway.
Russian President Vladimir Putin stated on December 19 that Russia "has ideas" on how and in what direction the issue of Serbia's Oil Industry could be resolved and that such a dialogue with Serbia is underway.
The purpose of the sanctions against NIS is to prevent Russia from using revenues from the energy sector to finance its invasion of Ukraine.
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