Serbia: US Treasury extends JANAF's crude oil supply license to NIS

On January 10, 2025, the U.S. State Department and the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC) imposed sanctions on the Russian energy sector, including restrictions on Serbia's Naftna Industrija Srbije (NIS).

NIS has an existing contract with Adriatic Oil pipeline (JANAF) for the transportation of 10 million tonnes of crude oil from January 1, 2024, to December 31, 2026. This was reported on by SGS INSPIRE on March 12, 2025. With the full support of the Croatian government, the JANAF company received four consecutive licenses from OFAC, which granted permission to continue implementing the agreement with NIS, securing the transportation of crude oil in an uninterrupted mode af