Serbian oil company NIS has gained short-term relief after US authorities granted permission for the company to continue operating until 23 January, easing immediate pressure on the country’s fuel supply chain. The authorization allows the Pančevo refinery to resume activity following weeks of disruption caused by sanctions-related constraints.
The temporary approval is closely tied to ongoing negotiations over NIS’s ownership structure. Unofficial reports indicate that talks between Russia’s Gazprom and Hungary’s MOL regarding the sale of the Russian majority stake could conclude by 23 January, coinciding with the expiration of the current license.
According to media sources, the extension followed high-level diplomatic engagement involving Serbian President Aleksandar Vučić, officials from the US Treasury’s Office of Foreign Assets Control (OFAC) and the State Department, as well as Hungarian Prime Minister Viktor Orbán. Discussions reportedly focused on ensuring continuity of energy supplies while ownership issues are resolved.
Sanctions against NIS officially took effect in early October, triggering widespread disruption. Crude oil deliveries via the Croatian JANAF pipeline were halted, and by early December, the Pančevo refinery began suspending operations due to insufficient feedstock. During this period, Serbia relied on strategic reserves and imported petroleum products to meet domestic demand.
Alongside the license granted to NIS, the JANAF pipeline operator confirmed it received US approval to continue transporting crude oil to Serbia. This measure enables fulfillment of existing transport contracts and restores the logistical link needed to restart refinery operations. JANAF stated that it is ready to immediately resume deliveries to Pančevo and expressed confidence that negotiations over the Russian stake in NIS will soon be finalized, bringing the company into compliance with sanctions regulations. Croatian authorities noted that the license applies exclusively to non-Russian oil shipments, ensuring alignment of regional energy flows with international restrictions.
Together, these measures provide a narrow window for Serbia to stabilize its oil supply system while decisive steps are taken to resolve NIS’s ownership structure and secure long-term operational certainty.