Serbian oil company NIS has submitted an updated request to US authorities seeking another extension of the suspension of sanctions. The company’s current authorization, which allows it to continue operations despite the restrictions, is set to expire on 8 October. NIS is requesting a new license to maintain its activities beyond that date.
The sanctions have already been postponed eight times, initially through six one-month extensions, followed by a four-month extension until 1 October, and then an additional one-week reprieve. The measures target the company due to its majority Russian ownership. Earlier this month, NIS also renewed its petition to be removed from the US sanctions list.
As part of its proposal, the company reportedly offered to divest an 11.3 percent stake and commit to purchasing a certain quantity of American crude oil. NIS stated that on 28 September it submitted an updated request for removal from the Specially Designated Nationals (SDN) list, following an initial filing made on 14 March. The company noted that the delisting process is complex and may take considerable time.
Meanwhile, Serbian President Aleksandar Vučić expressed skepticism about the possibility of a new postponement, stating that he believes US sanctions will take effect on 8 October.
