The oil industry of Serbia (NIS) submitted a new request to the Ministry of Finance of the United States of America for the issuance of a special license which postpones full implementation sanction.
As announced by the NIS, the goal of the request is to enable the company to operate smoothly even after April 28, which is the deadline set by the license issued on March 28.
The United States of America has twice postponed the introduction of sanctions against the NIS.
Sanctions were previously supposed to be imposed on February 28, but were delayed by 30 days, then did the same March 28.
Why is the USA imposing sanctions on the NIS?
The USA announces the introduction of sanctions demanding the exemption of Russian capital from the NIS.
The decision to impose sanctions on Russian companies from the energy sector - Surgutneft and Gazpromneft and their subsidiaries - was made by the US Treasury on January 10.
Gazpromneft owns about 56 percent of NIS shares, the state of Serbia controls about 30 percent of ownership, and the rest are minority shareholders.
On March 14, the NIS company submitted a request to the US Treasury Department for removal from the SDN list (Specially Designated Nationals), which, as they state in the announcement, can be a long-term process.
The goal of this request, as announced at the time, is to postpone the full implementation of the sanctions under the NIS even after the license deadline.
The SDN list is managed by OFAC (Office of Foreign Assets Control), the US government agency that deals with the implementation of economic sanctions.
This list includes individuals, organizations, companies, and other legal entities deemed to be involved in activities that threaten US national security, and American companies and citizens are prohibited from doing business with them.