Serbia's largest oil company fails to get another postponement of US sanctions
Photo: NIS

Serbian oil company NIS failed to get another extension of US sanctions on Thursday, October 9, which jeopardizes fuel supplies for the country's only refiner. About writes Reuters.

US sanctions against NIS were imposed in January 2025 and are part of a broader package of measures to isolate Russian energy assets in Europe.

Previously, the Serbian company used a series of licenses that postponed the sanctions, but now there will be no new extension.

44.9% of NIS shares are owned by the Russian company Gazprom Neft, and another 11.3% by Gazprom's investment division. The Serbian government owns 29.9% of the shares.

The company supplies gasoline to about 350 filling stations in Serbia and meets about 80% of the country's diesel and gasoline needs, as well as more than 90% of aviation and heavy fuel.

NIS has assured consumers that it has enough oil to operate its Pancevo refinery near Belgrade (capacity – 4.8 million tons per year).

NIS Retail Sales Director Bojana Radojevic said that the filling stations will operate as usual and there are no restrictions on the amount of fuel for customers.

If international credit cards stop working, payments can be made in local dinars.

Serbia imports oil through the JANAF pipeline from Croatia. Earlier, the U.S extended the license for oil transportation to Serbia by October 15, but it is unclear whether the NIS will be allowed to accept additional supplies.

UPDATED AT 15:05

JANAF noted that NIS's failure to obtain a license means that further performance of the contract will be impossible from October 8.

"JANAF Plc continues to work actively with the Government of the Republic of Croatia and the company's legal advisors in the US to find possible solutions in accordance with current regulatory and legal regulations," the company emphasized.

They added that they would continue with their planned activities to diversify their business and enter new markets.

"JANAF is ready for such changes, as confirmed by the stress tests we conducted in the previous period. The company's activities are stable and in no way threaten its existence," JANAF said.