Belgrade, 30 October 2026, dtt-net.com - The United States Treasury Department has officially extended a sanctions waiver for Serbian oil refinery NIS until December 11, 2026. The company announced the receipt of a new special license allowing it to continue core operations, including refining, crude oil imports, financial settlements, and technical maintenance.
The waiver marks a shift from previous short-term, 30-day extensions granted by Washington, offering a multi-month operational window while a complex ownership transition is finalized.
NIS remains majority-owned by subsidiaries of Russia’s Gazprom. The company fell under U.S. sanctions targeting Gazpromneft in January 2025 following international measures over the war in Ukraine.
Washington has maintained a strict condition for removing the refinery from its blacklist: Gazprom must completely exit as the majority shareholder.
A preliminary agreement for Russia’s exit was reached in January between Hungary’s MOL and Gazprom. However, the final structural deal remains pending and requires explicit approval from the American government.
Ongoing negotiations for Gazprom’s 56.15% majority stake involve a delicate restructuring:
The Serbian Government: Currently holding 29.87%, Serbia is expected to increase its equity stake to 35% once the deal takes effect.
The United Arab Emirates’ state oil company (ADNOC) and Hungary’s MOL are slated to divide the remaining portion of the majority shares.
Minority Shareholders: Small-scale public investors, citizens, and employees will retain the rest of the company’s capital.
