Serbia’s leading oil and fuel supplier, Naftna Industrija Srbije (NIS), has applied for a fresh U.S. sanctions waiver to keep importing crude oil while it finalises a planned ownership change, the company said on Friday.
The request was filed on February 12 with the U.S. Office of Foreign Assets Control, days before the current waiver allowing operations under sanctions is due to expire on February 20.
NIS operates Serbia’s only oil refinery in Pancevo and supplies about 80% of the country’s fuel, making its continued operation critical for the national economy.
The company was sanctioned in October as part of broader U.S. measures targeting Russia’s energy sector over Vladimir Putin’s war in Ukraine, due to its Russian ownership links.
Russia’s Gazprom Neft and Gazprom together control more than half of NIS, while the Serbian government holds nearly 30%.
In December, U.S. authorities gave NIS until late March to complete a divestment of those Russian stakes, allowing temporary operations to continue.
As part of that process, Hungary’s MOL signed a binding agreement in January to buy the Russian-held shares in NIS.
NIS said extending the operating licence would give all parties enough time to complete negotiations and ensure continuity of supply.
Without a new waiver, crude imports could be disrupted, threatening fuel availability across Serbia and the wider Balkan region.
The company stressed that uninterrupted operations are vital for Serbia’s economy while the ownership transition is being finalised.