Hina News Agency: U.S. Extension of License to Lukoil Brings Optimism to Serbia

Gas station (Pixabay)

The U.S. authorities' decision to extend the operating license of the Russian Lukoil oil company until April 29, 2026 "has sparked optimism in Serbia that there is good will for certain concessions by Washington that would alleviate the crisis caused by the sanctions against the Naftna Industrija Srbije (NIS) oil company and the shutdown of the NIS refinery in Pancevo," the Croatian HINA news agency reported on Dec. 6.

The report notes that the U.S. Treasury's Office of Foreign Assets Control (OFAC) recently permitted an additional extension of the deadline for closing transactions with the Russian Lukoil's international network of gas stations. The deadline was first extended from Nov. 21 to Dec. 13, and then again until April 2026. "For Serbia this practically means that 112 Lukoil stations and two storage facilities will continue to operate because Lukoil will be able to import fuel as well, which is now roughly 100,000 tons of petroleum products," HINA reported.

The wire service did not mention statements by Serbian state officials on the subject, noting that experts and analysts see this as "a partial relaxation for supplying the domestic [Serbian] market in a situation when [the Croatian oil pipeline] JANAF, in accordance with the U.S. sanctions, has not, since Oct. 9, delivered petroleum to NIS's refinery, which has used up its stores and shut down early this week."

Jelica Putnikovic, editor at the Energija Balkana specialized website, told HINA that the OFAC decision had brought Serbia "a modest collateral benefit," but that it also pointed to a possible readiness by the U.S. "to give some leeway to Russian companies" amidst Washington's attempts to jumpstart Ukraine peace talks.