The U.S. seeks to waive sanctions on Serbia's NIS Oil Company, which is owned by Russians.
The company announced on Friday that Serbia's Russian owned NIS (NIIS.BEL), the only oil refinery in the country, had applied for a new U.S. sanctions waiver to continue 'operations' after July 1, when the existing one expires.
NIS cannot import or process crude oil without the waiver. NIS supplies up to 80% the Serbian market, and is majority owned by Russia’s Gazprom and?Gazprom.
NIS stated in a request to the Office of Foreign Assets Control of the U.S. Treasury that the waiver was needed "for the regular?work ..., and the 'orderly supply of domestic market.
OFAC imposed sanctions on NIS in October due to its Russian ownership as part of wider measures targeting Moscow's Energy Sector following its invasion of Ukraine.
Washington has pushed for the divestment from the Russian stake, and NIS has obtained a number of temporary waivers.
OfAC also gave Hungarian gas and oil company MOL until 1 July to conclude negotiations on acquiring the 56.16 %?stake?in NIS?held by Gazprom?and Gazprom. Serbia owns 29.9% of NIS.
(source: Reuters)
