U.S. Partially Delays Sanctions on NIS, Allows JANAF Oil Deliveries Until Sept. 8

Oil and gas company NIS (BETAPHOTO/EMIL VAS)

On Oct. 1, Serbia’s multinational oil and gas company Naftna Industrija Srbije (NIS) announced that the United States Department of Treasury issued a special license delaying the full implementation of its sanctions on NIS and thereby allowing the company’s uninhibited operation until Oct. 8.

Simultaneously, Croatian crude oil transporter Jadranski Naftovod (JANAF) stated that it extended its license for deliveries to the NIS-owned refinery in Pancevo, Serbia, until Oct. 8 as well.

NIS explained that its new temporary license was issued on Sept. 30 and recalled that the company has submitted an amended application for removal from the U.S.’s Specially Designated Nationals List of sanctioned people and organizations. According to NIS, the removal process is lengthy and complex, with the company having initially petitioned on March 14. NIS also stressed that it will continue to work on overcoming the current situation and will inform the public of any new circumstances potentially affecting operation in a timely fashion.

Meanwhile, JANAF announced that it received the license needed to continue executing its contract for crude oil delivery to NIS until Oct. 8, 2025. The press release added that, in the coming days, JANAF will – via its U.S. attorney and with the support of the Croatian government – contact the U.S. Office of Foreign Assets Control “to further extend the license.” Whether or not that will be possible, the company stated, “largely depends on the steps NIS takes toward relevant U.S. institutions.”

The United States levied sanctions against NIS in January 2025 due to Russia’s partial ownership. So far, the sanctions have been postponed six times, the latest being on Oct. 1.