The US Treasury Department has again granted a postponement until July 29 on the application of sanctions against Serbia’s NIS, according to a statement from the company. Energy Minister Dubravka Jedovic-Handanovic, quoted by Serbian media, said that “sanctions against NIS have been officially postponed, as confirmed in writing last night.”
Serbia has previously received several postponements of sanctions against NIS from the US, most recently until June 27.
As reported, on January 10, the US imposed sanctions against two Russian oil companies, Gazprom Neft and Surgutneftegaz, as well as their subsidiaries. The SDN List also includes Gazprom Neft’s Serbian subsidiary, NIS. The US then postponed the imposition of sanctions against NIS.
At the end of February, Gazprom Neft transferred 5.15% of NIS shares to Gazprom. Gazprom Neft now owns 44.85% of NIS shares, while Gazprom owns 11.3%. Another 29.87% of NIS shares are owned by Serbia, with the remainder held by minority shareholders.
Serbian President Aleksandar Vučić reported that the US is demanding the complete withdrawal of Russian capital from NIS. He recalled that in 2008, the Serbian government sold control of NIS to Russia’s Gazprom Neft, and over the past years, the Russian company and NIS have contributed to significant revenues for the Serbian budget, as well as the development of many projects.
NIS is the only company in Serbia engaged in the exploration and production of hydrocarbons, and it also owns a large oil refinery in the city of Pančevo. The company dominates the Serbian petroleum products market, and the NIS network of gas stations is present in Bosnia and Herzegovina, Bulgaria, and Romania, with a total of more than 400 stations.
