Serbia's NIS requests OFAC extend license for operational activities after April 17

MOSCOW. April 10 (Interfax) - Serbia's NIS (part of Gazprom Neft ) has requested that the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issue a new special license that would allow it to continue operational activities after April 17, the company said.

The current license for NIS's operational activities is valid until April 17.

NIS is asking for the possibility from OFAC to continue operations while negotiations on the sale of its shares are ongoing.

Previously, at the request of Hungarian company MOL, OFAC extended the negotiation period for the acquisition of a controlling stake in NIS until May 22, 2026.

As reported, MOL will be able to acquire a 56.15% stake of Gazprom Group in NIS, thereby assuming significant shareholder responsibility and management rights in the company that operates the country's only oil refinery. This is expected to further strengthen its position in the energy market of central and southeastern Europe.

The transaction is subject to, among other things, approval from OFAC and the Serbian government.

MOL previously reached agreement with Gazprom Neft to purchase 56.15% of NIS. It is assumed that MOL may subsequently sell a minority stake in NIS to ADNOC (UAE). In addition, Serbia may increase its stake in NIS by 5 percentage points in the future.

Currently, the main owner of the company is Gazprom Neft (44.85%), with another 11.3% of shares owned by JSC Intelligence (managed by Gazprom Capital LLC). Gazprom directly owns one share of NIS. The Serbian authorities own 29.87%, and the company also has minority shareholders.

As reported, NIS, as a subsidiary of Gazprom Neft, was included in the U.S. SDN List at the beginning of 2025. Serbian President Aleksandar Vucic said at the time that the U.S. was demanding the complete withdrawal of Russian capital.

NIS is the only company in Serbia engaged in hydrocarbon exploration and production, and it also owns a large refinery in the city of Pancevo with a capacity of 4.8 million tonnes per year. The company dominates the petroleum products market in the country, and its network of filling stations is also present in neighboring Balkan states, totaling more than 400 stations.