US extends sanctions exemption for Serbian NIS until December 11

The previous exemption, issued by the US Office of Foreign Assets Control (OFAC), was set to expire on Friday.

NIS is controlled by Russia’s Gazprom Neft and Gazprom. The new reprieve gives the company the opportunity to continue importing crude oil until the Russian stake is sold to Hungarian energy company MOL.

OFAC imposed sanctions on NIS in October 2025 as part of broader measures against Russia’s energy sector in connection with the war in Ukraine. According to the report, NIS accounts for about 80% of domestic demand in Serbia.

Belgrade currently imports oil from Azerbaijan, Guyana, Iraq, Kazakhstan, Libya, Nigeria, Norway, and the US.

Sources

• Source: ru.themoscowtimes.com