**Serbian Oil Company Seeks to Postpone US Sanctions**
The Serbian oil industry (NIS) has submitted a new request to the US Treasury Department to delay the full implementation of US sanctions set to take effect on April 28. This move aims to ensure uninterrupted business operations beyond the current license’s expiration date.
According to NIS, the goal is to maintain a steady supply of all types of petroleum products to the domestic market and preserve job security for its employees in the coming period. Despite facing challenging circumstances, the company remains committed to these goals.
This request marks the second time NIS has sought a delay in sanctions implementation, with support from the governments of Serbia and Hungary, as well as a Croatian company operating the JANAF oil pipeline. The US Treasury initially deferred enforcement of sanctions for 30 days, which is set to expire on April 28.
**Why Are Sanctions Being Imposed?**
NIS landed on the US Treasury’s sanctions list due to its ownership stake held by Russia’s Gazprom Neft. This tie has led to NIS being considered a “secondary risk” tied to Gazprom Neft, which is under Western sanctions stemming from Russia’s invasion of Ukraine.
As the only company in Serbia engaged in oil and gas exploration, production, and refining, NIS faces significant challenges due to these sanctions. The company has pledged to keep the public informed about any developments that could impact its operations.
**What Does This Mean for the Future?**
The outcome of this request remains uncertain. If granted, a further delay would provide temporary relief to NIS, allowing it to continue operating and serving the domestic market. However, if sanctions are fully enforced on April 28, it may lead to significant disruptions in oil supply chains.
The situation highlights the complexities of international trade and diplomacy, particularly in times of conflict and economic uncertainty. As the world grapples with the consequences of Russia’s invasion of Ukraine, the impact on companies like NIS continues to be felt.
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