# U.S. sanctions on Serbia Oil Industry > Live situation record from CLSTR: https://clstr.news/situations/us-sanctions-on-serbia-oil-industry > Updated: 2026-09-30T00:00:00.000Z. Sources: 29. Developments: 2. The operational status of Naftna Industrija Srbije (NIS) remains a point of contention regarding U.S. sanctions. NIS is currently subject to sanctions because a majority of its ownership is held by Russian entities, including Gazprom Neft, to prevent Russia from utilizing energy revenues to fund the war in Ukraine. On September 28, 2026, U.S. Representatives Joe Wilson and Keith Self urged the Treasury Department to deny extensions for temporary licenses that allow NIS to operate. In a letter to Treasury Secretary Scott Bessent, the lawmakers requested a review of all temporary licenses, expressing concern that such exemptions allow the company to delay potential sale negotiations regarding its Russian ownership. By September 30, 2026, the U.S. Office of Foreign Assets Control (OFAC) extended the operating license for NIS until October 30. This extension ensures the continued operation of the company and the Pančevo oil refinery, which is considered critical for maintaining the supply of diesel, gasoline, kerosene, and fuel oil ahead of the winter heating season. Serbian Minister of Mining and Energy Dubravka Đedović Handanović described the extension as positive news for a country facing energy challenges due to geopolitical factors and logistical difficulties, such as low water levels on the Danube. To mitigate these issues, the Serbian government has released 5,000 tons of diesel from state reserves and has been implementing excise tax reductions. Negotiations continue between OFAC and the Hungarian MOL Group regarding a potential transaction to purchase the 56.15 percent stake currently held by Gazprom Neft. While MOL and Gazprom Neft signed a framework agreement in January 2026 to facilitate this purchase, the finalization of the ownership transfer remains subject to United States approval. ## Claims - The US Office of Foreign Assets Control (OFAC) extended the operating license for Naftna Industrija Srbije (NIS) until October 30. (disputed by 20 sources) - US OFAC imposed sanctions on NIS on October 9, 2025, due to majority Russian ownership. (disputed by 16 sources) - Dubravka Đedović Handanović, Serbia's Minister of Mining and Energy, stated the extension is good news for the country. (corroborated by 20 sources) - Discussions between OFAC and MOL regarding a transaction are ongoing. (corroborated by 19 sources) - The Serbian government released 5,000 tons of diesel from state reserves to the market to address supply challenges. (corroborated by 16 sources) - The extension allows the Pančevo oil refinery to continue operations and produce maximum quantities of derivatives. (corroborated by 16 sources) - The Serbian government has been implementing excise tax reductions for several months. (corroborated by 15 sources) - MOL Group signed a framework agreement on January 19, 2026, to purchase a 56.15 percent stake in NIS from Gazprom Neft. (corroborated by 4 sources) ## Timeline ### 2026-09-30: NIS operating license extended by US OFAC until October 30 US OFAC has extended the operating license for Serbia's NIS until October 30, allowing the Pančevo refinery to continue production amid energy security concerns and ongoing talks regarding MOL's potential stake 21 sources. https://clstr.news/cluster/nis-expected-to-receive-us-license-extension-for-operations-in-serbia ### 2026-09-28: U.S. Republicans urge continued sanctions against Serbia's NIS U.S. Republican lawmakers Joe Wilson and Keith Self are calling on the Trump administration to deny license extensions for Serbia's NIS, citing concerns over its majority Russian ownership. 10 sources. https://clstr.news/cluster/us-republicans-urge-continued-sanctions-on-serbia-oil-industry --- Cite as: U.S. sanctions on Serbia Oil Industry. CLSTR, https://clstr.news/situations/us-sanctions-on-serbia-oil-industry