OFAC Extended License for NIS Operations
The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has extended the operating license for Naftna Industrija Srbije (NIS) until April 17, 2026. This was announced by the Serbian Ministry of Mining and Energy.
OFAC Extended License for NIS Operations The US Treasury’s OFAC has extended NIS’s operating license until April 2026, ensuring the Pančevo refinery continues operations and maintaining reliable fuel supply. This extension is crucial amid rising global oil prices and conflicts in the Middle East, which have complicated operations and raw material imports. The Serbian government is implementing measures, including reduced excise taxes and releasing fuel from reserves, to maintain stable oil product supplies.
- The US Treasury’s OFAC has extended NIS’s operating license until April 17, 2026.
- The Pančevo refinery will continue to operate, ensuring a reliable supply of oil products.
- This extension comes at a time of rising global oil prices and instability in the Middle East.
- Serbia has implemented measures like reduced excise taxes and releasing fuel from reserves to ensure supply stability.
- Citizens are advised not to stockpile fuel as reserves are sufficient.
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