Sanctioned Serbian Refinery Fights for Survival With Urgent U.S. License Bid

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Serbia's NIS refinery, majority-owned by Russian state energy firms and sanctioned by the US, has applied for a special US license to continue operations while negotiations for an ownership change take place.

Market Impact

Market impact analysis based on neutral sentiment with 65% confidence.

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Neutral
AI Confidence
65%

Article Context

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Serbia’s only refinery Naftna Industrija Srbije (NIS), majority owned by Russian state energy firms and sanctioned by the United States, said on Wednesday it had applied for a special U.S. license to continue operations until talks for an ownership change conclude. On Tuesday, NIS submitted a new request to the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury for the issuance of a special license that would enable the company to operate without disruptions, the Serbian company said. Gazprom…

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Original article published by OilPrice.com on November 19, 2025.
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