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US sanctions on oil firm ‘in force’
The Mercury
|October 10, 2025
US SANCTIONS on Serbia's Russian-owned NIS oil company, which runs the country’s sole refinery, came into force yesterday after months of delays.
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The US sanctioned the Petroleum Industry of Serbia (NIS) in January as part of its crackdown on Russian energy, aiming to curb the sector following Moscow’s invasion of Ukraine in 2022.
After the deadline for the sanctions to take effect - 6am yesterday - the company said it “had not yet been granted an extension of the special licence from the US Department of the Treasury”.
“NIS is working to overcome this situation,’ it said, adding it would work with the US Treasury to try for its removal from the sanctions list.
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