Sanctioned Serbian oil firm NIS has received a temporary reprieve from the US, with its operating licence extended until mid-June. This move will allow Serbia to continue oil imports and avoid another shutdown of its sole refinery.
The licence extension is seen as crucial for more stable planning of crude oil purchases, according to Energy Minister Dubravka Djedovic Handanovic.
Talks on selling a Russian-majority stake in NIS to Hungary's energy giant MOL have been ongoing for months, with a deadline set for May 22. Despite the recent change of government in Hungary, Serbian officials do not expect the agreement to be jeopardised.
NIS supplies 80 percent of Serbia's fuel market and was forced to halt production at its main Pancevo refinery in December due to long-delayed sanctions cutting off crude supplies.
