Serbian oil firm NIS posts €104.5M loss in 2025

Serbian oil company NIS ended 2025 with a net loss of €104.5 million, more than double the previously reported €47.5 million, according to its newly published financial report.

Report informs that the company attributed its financial difficulties to US sanctions imposed on its Russia-linked ownership structure, which took effect in October despite being announced earlier in the year.

NIS has obtained temporary licenses from the US multiple times to continue operations, with the latest license extended until April 17, while Hungary's MOL-interested in acquiring the Russian-owned stake-continues negotiations with the US Office of Foreign Assets Control (OFAC).