NIS SUBMITS REQUEST TO OFAC FOR A NEW LICENCE TO CONTINUE OPERATIONS

BELGRADE, JULY 27 /SRNA/ - Serbia's oil company NIS today submitted a request to the US Treasury Department's Office of Foreign Assets Control /OFAC/ for a new operating licence, RTS reported.

The existing OFAC licence allowing NIS to continue operating expires on July 31. The US administration previously extended the licence allowing Hungary's MOL company to negotiate with Russia's Gazpromneft on the sale of the majority Russian stake in NIS. That licence also expires on July 31. The United States imposed sanctions on NIS on October 9 last year due to its majority Russian ownership.