Serbia's NIS gets U.S. approval to resume production in its refinery
The U.S. has granted Serbia's majority-Russian refiner NIS an operating license until January 23, enabling it to resume production after a 36-day break, the energy minister said on Wednesday.
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) imposed sanctions on NIS in October as part of broader measures against Russia's energy sector after granting a series of waivers since January.
On Wednesday evening, Serbia's energy minister, Dubravka Djedovic Handanovic, wrote: "Great news for the end of the year. NIS company has obtained the license from the U.S. OFAC to operate until January 23. This means the refinery in Pancevo will resume work after a 36-day break."
The sanctions had halted crude supplies via Croatia's JANAF pipeline, shutting down production at the Pancevo refinery.
JANAF said in a statement on Wednesday evening that it "has obtained a license approving participation, until 23 January 2026, in activities that are customary and necessary for the transport of oil" for NIS.
Last week, OFAC gave NIS until March 24 to negotiate the sale of its Russian owner's stake (learn more).
Russia's Gazprom has an 11.3% stake in NIS, while its sanctioned oil unit Gazprom Neft holds 44.9%. The Serbian government has 29.9%, with the remainder held by small shareholders and employees.
Serbian President Aleksandar Vucic had said Gazprom is in talks with Hungary's MOL over a possible sale of its majority stake in NIS.
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