US Treasury extends NIS operating license

The US Treasury Department's Office of Foreign Assets Control (OFAC) has extended until December 11 the operating license for NIS (Naftna Industrija Srbije), a company under US sanctions.

According to Radio Television of Serbia, cited by Report, NIS submitted a request to OFAC on October 24 to extend its current operating license, which was due to expire on October 30.

NIS's owners have been forced to sell their assets after coming under US sanctions. In January 2025, the US Treasury Department added the Serbian company and its majority shareholder, Gazprom Neft, to its sanctions list. After several postponements, the restrictions took effect on October 9 of the same year.

On November 11, 2025, Serbia's Ministry of Mining and Energy said that NIS's Russian owners had notified the United States of their willingness to transfer control of the company to a third party.