Serbia’s Gazprom-linked company again asks US to delay sanctions

Serbian oil company Naftna Industrija Srbije (NIS) has appealed to the US Department of the Treasury to extend its exemption from sanctions targeting Gazprom, according to the company’s press service.
The company is seeking a special license from the US that would delay the full implementation of sanctions and allow it to continue operations beyond July 29.
The license would enable NIS to avoid the full impact of sanctions imposed by the United States due to its ties to Russia’s Gazprom Neft, which holds a controlling stake in the Serbian oil company.
Until now, NIS has already received four such licenses from the US Treasury’s Office of Foreign Assets Control (OFAC). The first exemption was granted in February.
Since 2008, Gazprom Neft, along with its parent company Gazprom, has held 56.15% of shares in NIS. In February this year, Gazprom Neft reduced its stake to 44.85%.
Earlier, it was reported that Serbian President Aleksandar Vučić stated that Russia’s Gazprom Neft was given 45 days to exit its ownership in NIS due to US sanctions.