Fuel retailers in Serbia have significantly increased petroleum product imports to counter the effects of sanctions on the national oil company NIS. Tomislav Micovic, Secretary General of the Association of Oil Companies of Serbia, stated that companies had prepared in advance to secure supplies and maintain stability in the domestic fuel market. He noted that […]
Serbian oil company NIS has announced that it will distribute dividends for the 2024 financial year on 22 October, with shareholders receiving a gross payment of 0.24 euros per share. The company noted that dividends for shareholders included on the US Treasury Department’s Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list will
Professor Dragan Djuricin from the Faculty of Economics in Belgrade criticized the 2008 privatization of Serbia’s oil company NIS, calling it a significant undervaluation of one of the country’s most strategic assets. Djuricin noted that Deloitte, hired by the Serbian government to assess NIS’s value, estimated the company at €2.2 billion for full ownership, excluding
As US sanctions targeting Serbian Russian-owned oil company NIS approach their 8 October enforcement date, Russian negotiators have put forward several proposals aimed at avoiding restrictions, according to Serbian media reports. One proposal reportedly involves transferring the 11.3 percent stake in NIS, recently moved by Gazprom to its subsidiary Intelligence, to an American company. This
Earlier this year, the U.S. Department of the Treasury introduced sanctions targeting Russia’s energy sector, which are now being applied to Serbian oil company NIS. This affects NIS’s crude oil transport agreement with Croatian pipeline operator JANAF, valid from 1 January 2024 to 31 December 2026. Under the contract, NIS reserved pipeline capacity under a
Serbia seeks solution to US sanctions on national oil company NIS Read More »
Finance Minister Sinisa Mali stated that discussions are ongoing with both Russian and US representatives to find a solution that safeguards the interests of Serbian citizens. He stressed that Serbia did not trigger these sanctions and must ensure that its energy security is not compromised. The government’s priority, according to Minister Mali, is to prevent
Serbia: NIS requests U.S. license to delay sanctions and removal from SDN list Read More »
Serbian oil company NIS has confirmed that it submitted a new request to the U.S. Treasury Department for a special license to delay the full implementation of sanctions, allowing the company to continue operations. In addition, NIS filed a separate application to be removed from the Specially Designated Nationals (SDN) list, a process described as
Serbia: US delays sanctions on NIS until early October Read More »
The enforcement of US sanctions on Serbian oil company NIS has been postponed until 8-9 October. The measures were originally set to take effect on 1 October, but discussions between Serbian President Aleksandar Vučić and US officials led to the short extension. President Vučić previously confirmed that additional talks with US representatives had requested the
Croatian oil pipeline operator JANAF has warned that it could lose a significant portion of its revenues if US sanctions on Serbian oil company NIS are implemented in October. To address this risk, JANAF plans to request an extension of its license from US authorities to continue its cooperation with NIS. Currently, JANAF holds a
Serbia: US sanctions on NIS set for October 1 after brief extension Read More »
Serbian President Aleksandar Vučić announced that the United States has extended the sanctions deadline for the country’s oil company NIS by only four days, making them effective from October 1, 2025. The United States placed Serbia’s largest oil firm under sanctions on January 10, citing secondary risks tied to its majority Russian ownership in the
