BELGRADE, September 30. /TASS/. The Treasury's Office of Foreign Assets Control (OFAC) has extended the operating license for the sanctioned Serbian company Naftna Industrija Srbije (NIS) until October 30, said Dubravka Djedovic Handanovic, the Acting Minister of Mining and Energy of the country.

"We have received another extension of the operating license from OFAC for the Naftna Industrija Srbije, which is good news for Serbia, especially with the winter season approaching. The situation remains extremely challenging due to the geopolitical environment and rising energy prices, as well as in connection with challenging logistics conditions, low water levels in the Danube, and problems with importing petroleum products," the ministry's press service said, citing Djedovic Handanovic

"The 30-day license extension will allow the Pancevo oil refinery to continue its operations and produce maximum volumes of petroleum products," the acting minister said. This is particularly important ahead of the heating season, she noted.

NIS owners had to sell their assets as they were hit by the US sanctions. In January 2025, the US Department of the Treasury added the Serbian company to its sanctions list alongside its majority shareholder, Russia’s Gazprom Neft. Following several delays, the restrictions took effect on October 9 of that same year. On November 11 of the last year, the Serbian Energy Ministry said Russian owners of NIS informed the US of their readiness to transfer control of the company to a third party.