Published by Global Banking & Finance Review®
Posted on August 22, 2025
1 min readLast updated: January 22, 2026
Add as preferred source on GoogleSerbia's NIS, owned by Gazprom Neft, requests a sixth US sanctions waiver to ensure crude supply for its Pancevo refinery.
BELGRADE (Reuters) -Russian-owned Serbian oil company NIS has asked the United States for a sixth waiver from sanctions that could cut its crude supply, the pro-government Tanjug news agensy said on Friday.
NIS, majority-owned by Russia's Gazprom Neft and Gazprom, operates Serbia's only oil refinery in the town of Pancevo, just outside the capital Belgrade.
The facility has an annual capacity of 4.8 million metric tons and covers most of the Balkan country's needs.
The U.S. Treasury's Office of Foreign Assets Control placed sanctions on Russia's oil sector on January 10, and gave Gazprom Neft 45 days to exit ownership of NIS.
NIS has so far secured five waivers, with the latest one set to expire on August 27.
Gazprom Neft owns 44.85% of NIS, while Gazprom has 11.3%. The Serbian government owns 29.87%, with small shareholders accounting for the rest.
(Reporting by Aleksandar Vasovic. Editing by Mark Potter)
NIS Oil Company is a Serbian oil firm, majority-owned by Russia's Gazprom Neft. It operates Serbia's only oil refinery and plays a significant role in the country's energy supply.
A sanctions waiver is an official permission granted to a company or entity to continue operations that would otherwise be prohibited under existing sanctions.
Crude oil supply refers to the availability of unrefined petroleum, which is extracted from the ground and processed into various petroleum products.
Gazprom Neft is a major Russian oil company and a subsidiary of the state-owned Gazprom. It is involved in the exploration, production, and refining of oil and gas.
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