NIS Seeks Sanctions Delay Amid Crucial Energy Role in Serbia

Serbia's NIS, a Russian-owned oil company, seeks to delay U.S. sanctions. Initially sanctioned on January 10, the firm requested a license to maintain operations. NIS, vital for Serbia's oil supply, covers most of the country's fuel needs and seeks exemption from the SDN list.

Serbia's oil powerhouse NIS, owned by Russia's Gazprom Neft, has made a strategic move to delay the imposition of U.S. sanctions, crucial for its operations.

On Monday, NIS announced it filed a request to the U.S. Treasury for a special license to postpone sanctions initially slated for October 1, to keep its operations unhindered. The ongoing list exclusion process started on March 14.

As Serbia's sole refiner, providing a majority of its petroleum needs, NIS's operations are vital. The sanctions threaten to disrupt its crude supply through Croatia's Janaf pipeline, putting Serbia's energy security at risk.

(With inputs from agencies.)