NIS

Serbian oil company NIS has gained short-term relief after US authorities granted permission for the company to continue operating until 23 January, easing immediate pressure on the country’s fuel supply chain. The authorization allows the Pančevo refinery to resume activity following weeks of disruption caused by sanctions-related constraints. The temporary approval is closely tied to […]

Serbian energy authorities have confirmed that ongoing discussions are underway regarding a potential change in ownership at oil company NIS, as efforts continue to resolve US-imposed sanctions on the company. According to the Ministry of Energy, the talks involve Russian majority shareholders and Hungary’s MOL, which is being considered as a potential buyer of the

The US Treasury’s Office of Foreign Assets Control (OFAC) has issued a new license to Serbian oil company NIS, allowing negotiations on the sale of the Russian ownership stake to continue until 24 March. However, the license does not permit regular business operations during this interim period. The decision provides additional time for discussions but

For years, Naftna industrija Srbije (NIS) occupied a unique position in Serbia’s economy. It was not merely the country’s dominant oil and gas company; it was a symbol of operational continuity, consistent profitability and strategic relevance. Its earnings supported the state budget, underpinned public finances and served as a buffer in times of economic uncertainty.

When Washington quietly tightened the sanctioning architecture targeting Russia’s energy interests, Belgrade began feeling tremors long before any official measure referenced Serbia. The country’s largest oil company, NIS, majority-owned by Gazprom Neft, found itself drawn into the gravitational field of a much broader confrontation. The pressure did not resemble the blunt embargoes of previous eras;

Serbia is implementing emergency measures to maintain energy stability after the United States refused to issue a license allowing oil company NIS to continue operating its Pančevo refinery. Following consultations with national energy teams, President Aleksandar Vučić announced that Serbia would temporarily secure NIS’ payment operations through the end of the week, despite the financial