Oil and gas company NIS (BETAPHOTO/EMIL VAS)
The U.S. Ministry of Finance has issued a new special license that allows Serbian oil company Naftna Industrija Srbije (NIS) to carry out operative activities until no later than Oct. 1 this year.
The license was issued on Sept. 25, a day before the expiration of the deadline by which the sanctions - imposed by the U.S. Department of the Treasury on NIS in January this year over a Russian stake in the company - had been delayed.
On March 14, NIS filed a request with the U.S. Department of the Treasury to take the company off the Specially Designated Nationals list which, as NIS said on Sept. 26, is a long and complex process.
"In such conditions, the company aims to adjust its operations to the new circumstances, and maintaining stability on the domestic oil derivatives market and preserving employees' social stability remain the priorities," NIS underlined in a statement. NIS also said that it was continuing cooperation with the U.S. Department of the Treasury on the request for removal from the sanctions list and for license extension, as well as cooperation with shareholders on resolving the current situation.
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