U.S. Republicans urge continued sanctions against Serbia's NIS

Two Republican members of the U.S. House of Representatives, Joe Wilson and Keith Self, have urged the Trump administration to maintain sanctions against Naftna Industrija Srbije (NIS). In a letter addressed to Treasury Secretary Scott Bessent, the lawmakers requested a review of all temporary licenses that allow NIS to continue operations despite its Russian ownership.

NIS is currently under U.S. sanctions because a majority of its shares, 56.15 percent, are held by Russian entities, including 44.85 percent by the state-owned Gazprom Neft. The sanctions were originally implemented to prevent Russia from utilizing energy sector revenues to fund the war in Ukraine.

The company’s current operating license, issued by the Office of Foreign Assets Control (OFAC), is set to expire on September 30. While the Hungarian company MOL has expressed interest in acquiring the Russian stake, the deal has not yet been finalized. The Republican lawmakers expressed concern that ongoing exemptions may allow NIS to delay negotiations regarding the sale of its Russian ownership.