Serbia's Russian-owned NIS oil firm seeks new US sanctions waiver

MOL Magyar Olaj es Gazipari Nyrt

24/09/2026 09:24

BELGRADE, Sept 24 (Reuters) - Serbia's Russian-owned NIS NIIS.BEL, which runs the country's only oil refinery, said on Thursday that it has applied for a new US sanctions waiver ‌to continue operations after September 30, when the current one expires.
The US Office of Foreign Assets Control imposed sanctions against NIS last October over its Russian ownership, part of broader measures ‌targeting Moscow's energy sector over its invasion of Ukraine.
A new waiver would allow NIS, which supplies up to 80% of the Serbian market and is majority owned by Russia’s Gazprom Neft SIBN.MM and Gazprom GAZP.MM, to continue importing crude oil until the planned sale of the Russian stake to Hungarian oil and gas company MOL MOLB.BU.
NIS said in a statement that "the regular functioning of the ... oil refinery, and a stable market supply are of crucial importance for maintaining energy stability" in Serbia.
Washington has been pushing for the divestment of the Russian stake, and NIS has secured a series ⁠of temporary waivers until the sale is completed.
Gazprom Neft and Gazprom have a combined 56.16% stake in NIS, while Serbia has 29.9% and the rest is owned by small shareholders and employees.

 (Reporting by Aleksandar Vasovic; Editing by Edwina Gibbs)
 ((aleksandar.vasovic@thomsonreuters.com))