Published by Global Banking & Finance Review®
Posted on October 16, 2025
1 min readLast updated: January 21, 2026
Russia is working with Serbia to resolve sanctions on the NIS oil company, a major energy asset affected by US sanctions due to the Ukraine conflict.
MOSCOW (Reuters) -Russia is continuing to seek a solution with Serbia regarding the Serbia-based, Russia-owned oil company NIS after the U.S. imposed sanctions on it, the Russian foreign ministry said on Thursday.
Washington announced sanctions in January against NIS, Serbia's biggest oil importer and one of Russia's last remaining energy assets in Europe, over Moscow's 2022 invasion of Ukraine.
A series of waivers, however, had delayed them until last week, when NIS said that no further postponement was forthcoming.
(Reporting by Vladimir Soldatkin; Writing by Anastasia Teterevleva; Editing by Mark Trevelyan)
NIS is a Serbia-based oil company owned by Russia, which is the largest oil importer in Serbia and one of Russia's remaining energy assets in Europe.
U.S. sanctions can restrict a company's ability to operate internationally, limit access to financial markets, and affect its overall business operations.
Foreign investment refers to investments made by individuals or entities in one country into business interests in another country, often to gain access to new markets.
An energy asset refers to resources or properties that produce energy, such as oil fields, gas reserves, or renewable energy facilities.
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