Serbia Minister Confirms NIS License Extended, Keeping Russian-Backed Energy Flowing
View of the new Sava River Bridge in Belgrade near the Ada Ciganlija river island connecting on August 8, 2011, the river banks of Belgrade and New Belgrade
MOSCOW (Sputnik) — Russian-Serbian company Naftna Industrija Srbije (NIS), which is currently under US sanctions, has received a 30-day operating license extension from the US Treasury Department, Serbian Mining and Energy Minister Dubravka Djedovic Handanovic said. On June 26, NIS requested a new operating license from the US Treasury Department’s Office of Foreign Assets Control (OFAC), which was set to expire on July 1. «We have been notified by OFAC that the operating license for NIS has been extended for another 30 days – until July 31,» Djedovic Handanovic said on social media on Tuesday. NIS is one of the largest vertically integrated energy companies in Southeast Europe, engaged in exploration, production, refining of oil and gas and retail of petroleum products. The company employs about 14,000 people, with annual contributions to the Serbian budget reaching 9%. The company owns over 400 gas stations. Russian oil company Gazprom Neft holds 44.8% of NIS shares, the Serbian government holds 29.8%, while the remainder belongs to smaller shareholders. In September, a Gazprom subsidiary acquired an additional 11.3% stake.
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