US Extends Sanctions Waiver for Serbian Refinery Amidst Sale Negotiations

July 2, 2026

The United States has prolonged the temporary waiver on sanctions against Naftna Industrija Srbije (NIS), a Russian-owned oil refinery in Serbia, until July 31, 2026. This extension facilitates the refinery's continued crude oil processing while negotiations persist for the sale of a controlling interest in NIS from Gazprom Neft to Hungary's MOL Group. The U.S. also granted MOL Group a specific license extension to continue these discussions.