NIS seeks new US license to ensure Serbian energy stability

Naftna industrija Srbije (NIS) has submitted a new request to the United States Department of the Treasury for a special operating license. This request aims to ensure the continuity of the company's operations following the expiration of its current license on October 30, 2026.

NIS is currently subject to US sanctions due to the 56 percent ownership held by Russian entities Gazprom Neft and Gazprom. While an agreement was reached in January 2026 for the Hungarian energy company MOL to acquire the Russian stake, the transaction is awaiting final approval from relevant US and Serbian authorities.

The Pančevo oil refinery, operated by NIS, is critical to Serbia's energy security, supplying approximately 80 percent of the domestic market's fuel demand. The company emphasizes that maintaining uninterrupted operations is essential for national energy stability.