U.S. Sanctions on NIS Take Effect

Oil and gas company NIS (BETAPHOTO/EMIL VAS)

Serbia’s Naftna Industrija Srbije (NIS) oil and gas multinational announced on Oct. 9 that it did not receive an extension on the special license issued by the United States Department of Treasury which allowed the company to operate normally despite the sanctions officially imposed by the U.S. in January.

“From the moment the company was listed as an SDN [Specially Designated National] in January, NIS has been closely monitoring the situation and attempting to adapt its operation to the new circumstances. As before, ensuring a regular supply of oil derivatives to the domestic market and protecting the social stability of company employees remain a priority. At present, NIS has secured sufficient [crude] oil supplies for processing, while gas stations have been provided with a regular quantity of all oil derivatives,” the company stated on its website.

Should foreign credit cards such as Visa and Mastercard cease to work at NIS gas stations, payments will still be possible with the domestic Dina Card, cash or the domestic Instant Payment System (IPS), where instant QR payment codes are generated on cell phones via one’s bank app.

According to NIS, its S Nama Na Putu (SNNP Card) general loyalty card as well its special loyalty cards for farmers (Agro Card) and taxi drivers (Taxi Card) will all remain operative for point-gathering, discounts and payment.

“With regards to wholesale, unobstructed dinar transactions have been ensured and NIS remains a reliable partner, ready to meet all its contractual obligations to business partners, including corporate clients and big buyers,” NIS said.

The United States levied sanctions against NIS in early 2025 over Russia’s large stake in the company, but the sanctions did not take full effect until Oct. 9.