US grants Serbian oil firm another sanctions waiver

The US extended a sanctions waiver for Serbian oil firm NIS until August 28, allowing it to import crude and operate its refinery.

NIS is majority-owned by Russian firms Gazprom Neft (45%) and Gazprom (11.3%), which are under US sanctions.

The waiver was granted by the US Treasury's Office of Foreign Assets Control, with prior deadline set for July 31.

Serbia is in talks to sell the Russian stake to Hungarian energy company MOL, with a new deadline expected.

NIS supplies about 80% of Serbia's fuel market and had halted production at its Pancevo refinery in December due to sanctions.