US extends NIS license until August 28

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has granted Naftna industrija Srbije (NIS) an extended operating license until August 28. This crucial permit allows the Serbian oil company to continue its operations, specifically the processing of crude oil.

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We expect that OFAC will respond to two more requests, MOL's for negotiations with 'Gaspromnjeft' regarding the sale of Russian majority ownership in the company, as well as JANAF's - for oil supply to NIS.

Dubravka Đedović Handanović, Serbia's Minister of Mining and Energy, had previously indicated that there were signs NIS would receive the license. She anticipated an official letter from the U.S. administration to formalize the extension.

NIS had submitted a request to OFAC for this license renewal. The U.S. administration is also expected to respond to two other requests concerning NIS: one from MOL regarding negotiations with Gazpromneft over the sale of Russian majority ownership, and another for JANAF to supply oil to NIS.

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I expect that the agreement on Naftna industrija Srbije will be finalized in the coming days.

Serbian President Aleksandar Vučić expressed optimism that an agreement regarding NIS would be finalized in the coming days. He mentioned the possibility of discussing the matter with Russian President Vladimir Putin and Hungarian Prime Minister Peter Magyar. Vučić also voiced concerns about the ongoing conflicts in Iran and Ukraine.

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I have nightmares about the war in Iran and Ukraine.