The United States has extended the temporary license for the Serbian oil company NIS, which is under sanctions, until mid-June 2026. This allows the company to continue its operations in the supply and processing of crude oil, which is crucial for ensuring Serbia’s energy stability.
This is reported by Finway
Importance for Serbia’s Energy Market
According to Serbia’s Minister of Energy, Dubravka Jedović-Handanović, the 60-day extension of the license enables NIS to plan its oil purchases more effectively. This issue is of strategic importance, as NIS supplies up to 80% of fuel in the country’s domestic market.
“We received good news from the United States. The validity of the license for operations issued to NIS has been extended by 60 days, which is very important for more stable planning of crude oil purchases,” said Jedović-Handanović, as quoted by the national public broadcaster’s website.
As a result of sanctions imposed by Western countries on Russian energy resources, NIS was forced to halt operations at the only oil refinery in the city of Pančevo at the end of last year, leading to a temporary suspension of fuel production. However, thanks to the extension of the American license, Serbia was able to resume oil imports and avoid a fuel shortage.
Ownership Structure and Capacity of NIS
The oil company NIS, located in Pančevo near Belgrade, is the only oil refinery in Serbia. Its refining capacity is 4.8 million tons of oil per year, which allows it to cover the majority of the country’s energy needs. The company’s shareholder structure indicates that 44.9% of the shares belong to Gazprom Neft, 11.3% to Gazprom, and 29.9% to the government of Serbia.
In January 2026, it became known that the Hungarian company Mol and the Russian Gazprom Neft reached an agreement, resulting in Mol gaining control over the Serbian oil refinery. Additionally, on January 9, NIS announced the import of the first batches of oil, marking a key step in resuming the refinery’s operations following the easing of sanctions from the United States.