US Extends NIS License Until August 28
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The US Office of Foreign Assets Control (OFAC) has extended the operating license for Serbian oil company NIS, majority-owned by Russia, until August 28. The extension allows NIS to continue its operations and secure crude oil supplies. Serbian officials, including President Aleksandar Vucic and Minister of Mining and Energy Drabravka Jedović Hanđanović, have welcomed the extension but noted that uncertainty persists regarding NIS's long-term future. The extension comes as negotiations continue between Russian owners and Hungarian company MOL over the purchase of the Russian stake in NIS.
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