NIS submits new license request to U.S. Treasury

Naftna industrija Srbije (NIS), the Serbian oil and gas company, has filed a new application for an operating license with the U.S. Department of the Treasury. This move comes as the company's current license, issued by the Office of Foreign Assets Control (OFAC), is set to expire on July 31.

The existing license permits NIS to continue its operational activities. The submission of a new request indicates the company's intention to ensure uninterrupted operations beyond the current expiration date.

Adding to the complexity, the U.S. administration had previously granted an extension for the Hungarian company MOL to negotiate the potential sale of the majority Russian stake in NIS. This separate license, crucial for the ongoing discussions regarding ownership, also expires on July 31.

All eyes are now on the U.S. Department of the Treasury as it considers NIS's new application. The decision will determine whether the Serbian energy giant can continue its operations without interruption, especially in light of the expiring negotiations license concerning its ownership structure.