LICENSE EXTENSION FOR NIS OPERATIONS UNTIL JUNE 16

BELGRADE, APRIL 17 /SRNA/ – The US Department of the Treasury's Office of Foreign Assets Control /OFAC/ has extended the operating license for Serbia’s Oil Industry /NIS/ until June 16.

“We have received good news from the United States that NIS's operating license has been extended for 60 days, which is very important for more stable planning of crude oil purchases, the safe operation of the Pančevo refinery, and reliable supply of petroleum products in the country,” Serbian Minister of Mining and Energy Dubravka Đedović Handanović said. She emphasized that this is a positive signal of progress in negotiations on a change of ownership between Hungary's MOL and Russia's Gazprom Neft. “The top management of MOL will be in Belgrade on Saturday, and operational teams from Tuesday, so we can discuss all details,” Handanović added. OFAC imposed sanctions on NIS on October 9 due to its majority Russian ownership.