US extends licences related to sale of Serbian refinery to 31 July 2026

2 July 2026

The US has extended the temporary licence on Serbia’s Russian-owned oil refinery Naftna Industrija Srbije (NIS) until 31 July 2026, according to the Serbian energy minister. The licence had been extended at least 3 times before and was due to expire on 1 July 2026. It authorises the refinery to continue processing crude oil.

OFAC designated NIS in January 2025 because it is a subsidiary of Gazprom Neft, a Russian energy company. The licence has been extended while negotiations continue between Gazprom Neft and Hungarian MOL Group, for the sale of a majority stake in NIS.

MOL also announced that the US has extended its specific licence to continue negotiations with Gazprom Neft, until 31 July 2026.