# NIS sanctions license and ownership transition

> Live situation record from CLSTR: https://clstr.news/situations/nis-sanctions-license-and-ownership-transition
> Updated: 2026-08-26T06:09:21.000Z. Sources: 20. Developments: 2.

Naftna Industrija Srbije (NIS) is navigating a critical period regarding its operational capacity due to the impending expiration of a special license from the U.S. Office of Foreign Assets Control (OFAC) on August 28. The license, which allows the company to process crude oil despite its Russian ownership, is central to maintaining uninterrupted activities.

Serbian officials have expressed optimism regarding the situation. Prime Minister Đuro Macut noted that negotiations for the acquisition of Russian ownership in NIS are progressing, while President Aleksandar Vučić suggested the ownership transition could be finalized by September if U.S. authorities provide necessary understanding. To mitigate fuel supply risks, the state has increased systemic capacity through new oil terminals and storage units in Smederevo.

As the deadline approaches, banking institutions are exercising caution, seeking explicit permission from the U.S. administration before conducting financial transactions to avoid the risk of secondary sanctions. The situation remains closely linked to ongoing negotiations between MOL Group and Gazprom Neft to restructure the company’s ownership.

## Claims

- The current OFAC operational license for NIS is valid until August 28. (corroborated by 3 sources)
- Banking institutions are awaiting permission from the US administration to conduct necessary financial transactions. (corroborated by 2 sources)
- The decision regarding the extension of the OFAC license for NIS will be awaited until the last moment. (corroborated by 2 sources)
- Construction of the Serbia-Hungary oil pipeline is targeted to begin before the end of the year. (corroborated by 2 sources)
- Serbian Energy Minister Dubravka Đedović Handanović stated that Serbia has fulfilled its obligations regarding the NIS takeover. (corroborated by 2 sources)
- President Aleksandar Vučić expressed optimism that the NIS matter could be concluded in September. (single source)
- Broker Branislav Jorgić noted significant market nervousness regarding the NIS license expiration. (single source)
- A preliminary agreement was reached in January for the sale of 56 percent of NIS shares between MOL and Gazprom Neft. (single source)

## Timeline

### 2026-08-26: NIS faces critical deadline as OFAC license expiration approaches

The operational license for NIS expires on August 28, leaving Serbia's energy stability dependent on an OFAC decision. Banks await US approval to avoid secondary sanctions during the MOL-Gazprom ownership shift

18 sources. https://clstr.news/cluster/serbia-begins-construction-of-belgradezrenjaninnovi-sad-highway

### 2026-08-22: NIS seeks new OFAC license to ensure continued operations

NIS has applied to OFAC for a new license to continue operations beyond August 28, as negotiations continue regarding the acquisition of its Russian majority stake.

2 sources. https://clstr.news/cluster/nis-seeks-new-ofac-license-to-ensure-continued-operations

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Cite as: NIS sanctions license and ownership transition. CLSTR, https://clstr.news/situations/nis-sanctions-license-and-ownership-transition