The U.S. Office of Foreign Assets Control (OFAC) has granted Janaf a one-month extension of the license, allowing it to continue supplying crude oil to the Oil Industry of Serbia (NIS) until September 26, Janaf reported on Wednesday.
The United States has thus postponed sanctions against NIS for the sixth time, which operates the only oil refinery in Serbia.
– In order to meet the needs of our partner – the Oil Industry of Serbia, JANAF will continue to work with the Government of the Republic of Croatia and U.S. attorneys to obtain the necessary approvals for the continued supply of crude oil to NIS in the upcoming period – it is emphasized in Janaf’s statement.
The sanctions against the Oil Industry of Serbia are part of the punitive package of U.S. sanctions against the Russian energy sector.
Through the Adriatic oil pipeline, between two and three million tons of oil are transported annually to the refinery in Pančevo, which is the main supplier of the Serbian oil derivatives market, generating approximately 40 million euros in revenue for Janaf. Additionally, Janaf signed a contract with NIS last year for the transportation of ten million tons of oil by the end of next year.
NIS has been under scrutiny of U.S. sanctions since the beginning of this year, as more than 55 percent of its shares are held jointly by Russian Gazprom Neft and Gazprom.
