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Home > Headlines > Serbia's NIS oil company seeks sixth reprieve from US sanctions, report says

Serbia's NIS oil company seeks sixth reprieve from US sanctions, report says

Published by Global Banking & Finance Review®

Posted on August 22, 2025

1 min read

Last updated: January 22, 2026

Serbia's NIS oil company seeks sixth reprieve from US sanctions, report says - Headlines news and analysis from Global Banking & Finance Review

Tags:oil and gas financial markets investment

Quick Summary

Serbia's NIS, owned by Gazprom Neft, requests a sixth US sanctions waiver to ensure crude supply for its Pancevo refinery.

Serbia's NIS Oil Firm Requests Sixth Sanctions Waiver from US

NIS Oil Company and US Sanctions

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.

Background on NIS and Ownership

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.

Impact of Sanctions on Oil Supply

The facility has an annual capacity of 4.8 million metric tons and covers most of the Balkan country's needs.

Previous Waivers and Future Outlook

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)

Key Takeaways

•NIS seeks a sixth waiver from US sanctions.
•NIS is majority-owned by Russia's Gazprom Neft.
•The Pancevo refinery is crucial for Serbia's oil supply.
•US sanctions could impact NIS's crude supply.
•Previous waivers have been granted to NIS.

Frequently Asked Questions about Serbia's NIS oil company seeks sixth reprieve from US sanctions, report says

1What is NIS Oil Company?

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.

2What is a sanctions waiver?

A sanctions waiver is an official permission granted to a company or entity to continue operations that would otherwise be prohibited under existing sanctions.

3What is crude oil supply?

Crude oil supply refers to the availability of unrefined petroleum, which is extracted from the ground and processed into various petroleum products.

4What is Gazprom Neft?

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.

NIS Oil Company and US Sanctions

Background on NIS and Ownership

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.

Impact of Sanctions on Oil Supply

The facility has an annual capacity of 4.8 million metric tons and covers most of the Balkan country's needs.

Previous Waivers and Future Outlook

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)

Frequently Asked Questions

1What is NIS Oil Company?

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.

2What is a sanctions waiver?

A sanctions waiver is an official permission granted to a company or entity to continue operations that would otherwise be prohibited under existing sanctions.

3What is crude oil supply?

Crude oil supply refers to the availability of unrefined petroleum, which is extracted from the ground and processed into various petroleum products.

4What is Gazprom Neft?

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.