U.S. postpones sanctions against Serbia's NIS for 30 days - Serbian president

ROME. Feb 27 (Interfax) - The United States has postponed imposing sanctions against Serbian energy company NIS for 30 days, Serbian President Aleksandar Vucic said on Thursday.

"We have received another 30 days for NIS. Good news for the citizens of Serbia," he posted on social media.

Vucic attached a document from the U.S. Department of the Treasury to the message, which indicates that the U.S. authorities reached the decision.

The document states that the postponement of sanctions against NIS expires on March 28, 2025.

As reported on Wednesday evening, Gazprom Neft has transferred 5.15% of the shares in the Serbian company NIS to Gazprom , the Belgrade Stock Exchange said. Gazprom Neft previously owned 50% of NIS and Gazprom owned 6.15%. Gazprom Neft currently owns 44.85% of NIS' shares and Gazprom owns 11.3%. Serbia owns another 29.87% of NIS' shares, and minority shareholders own the remaining shares.

Srbijagas CEO Dusan Bajatovic earlier said that issuing a special license to NIS could resolve the sanctions matter. Bajatovic cited the example of Gazprombank in the case of European sanctions, when the bank had been allowed to render certain activities, primarily related to payment for gas supplies from Russia.

Serbia has formed reserves of petroleum products for 90 days, and NIS itself has fuel reserves for another 90 days. Consequently, Serbia's fuel market would be provided with products for 180 days if sanctions were imposed against NIS. Hungary previously said that it was ready to assist Serbia if sanctions are imposed against NIS.

As reported, the United States imposed sanctions against two Russian oil companies, Gazprom Neft and Surgutneftegas , as well as their subsidiaries, on January 10. The Serbian subsidiary of Gazprom Neft, NIS, is also included in the Specially Designated Nationals and Blocked Persons (SDN) List. Serbian President Vucic has said that the United States is demanding that Serbia completely withdraw Russian capital from NIS within 45 days. Meantime, Vucic recalled that the Serbian government sold control of NIS to Russia's Gazprom Neft in 2008, and NIS has contributed to significant revenues for the Serbian budget, as well as the development of many projects, over the past years.

NIS is the only company in Serbia engaged in hydrocarbon exploration and production, and it owns a large refinery in Pancevo. The company dominates the Serbian market for petroleum products, with a network of NIS petrol stations in Bosnia and Herzegovina, Bulgaria, and Romania totaling over 400 stations. Gazprom Neft currently owns 50% of NIS, while Gazprom owns 6.15%. Serbia owns another 29.87% of the shares, with minority shareholders holding the rest.