NIS Submits New, Updated Request for Postponing Sanctions

Oil and gas company NIS (BETAPHOTO/EMIL VAS)

The Oil Industry of Serbia (NIS) submitted a new, updated request to the U.S. administration on Oct. 3, shortly before midnight, asking for the postponement of U.S. sanctions again, the Serbian Broadcasting Corporation (RTS) reported on Oct. 4.

NIS wants a new license to be able to continue regular operations after Oct. 8, when the previous postponement expires. The U.S. are imposing sanctions against NIS because the Russians own a majority stake in the company. The sanctions have so far been delayed eight times, six times for one month, then, at the end of September, for only four days - until Oct. 1, and, finally, for another week.

Earlier this month, NIS repeated its request to be removed from the U.S.'s blacklist and reportedly offered to sell 11.3 percent of its shares, and also pledged to purchase a certain quantity of crude oil from the U.S. “NIS submitted an updated request on Sept. 28 for its removal from the SDN (Specially Designated Nationals) list, which is a long and complex process. The initial request was sent on March 14,” the company said in a statement.