Sanctions Against Nis Oil Company Postponed Until June 27

Pancevo oil refinery (BetaPhoto/Ministry of Mining and Energy of Republic of Serbia/Emilija Jovanovic)

The Serbian NIS oil company said in a press release on April 26 that the U.S. Treasury Department had issued a special new permit delaying the full application of sanctions against the Serbian oil company until June 27.

The new permit allows NIS to maintain business operations without limitations. "This permit allows the company unlimited performance of operative activities until June 27. NIS thanks the Serbian government and all of the other domestic and foreign institutions that supported the request made of the U.S. Treasury Department," the press release read.

The company recalled that it had submitted a request in March to be removed from the Specially Designated Nationals list, a blacklist of entities under U.S. sanctions. "NIS stresses that it follows Serbian law and the laws of other countries in whose markets it operates and that the way that it does its business has not contributed to the introduction of the sanctions that jeopardize the work of the company and the social stability of over 13,000 employees," the press release read.

It went on to say that going forward NIS would remain dedicated to the preservation of stability in the domestic market, the continuation of its investment cycle and maintaining the social stability of employees.

The JANAF oil pipeline's permit to transport petroleum to NIS has been extended by 60 more days, the Croatian government said in a press release on April 26. The statement noted that the Croatian government, in coordination with JANAF, had actively cooperated with the responsible U.S. agencies in the process of obtaining the license and had provided support to the strategic Croatian state enterprise.