Senators Back US Sanctions on Russian-Owned Oil Firm in Serbia
Five senators, including leaders of the Senate Foreign Relations Committee, said Oct. 15 that they welcome the Trump administration’s decision to allow a sanctions license for Serbia’s majority-Russian-owned oil company, NIS, to lapse this month. Russia uses energy to commit economic coercion in Europe and sustain its war against Ukraine, said a joint statement from Foreign Relations Chairman Jim Risch, R-Idaho, ranking member Jeanne Shaheen, D-N.H., and others. They also said that Russia’s stake in the company undermines Serbian President Aleksandar Vucic’s goal of joining the EU.
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The U.S. sanctioned NIS in January, issuing a general license at the time to authorize certain wind-down transactions with the company. The U.S. renewed the license several times at the request of Serbia's Mining and Energy agency (see 2507300038), but the U.S. allowed the license to lapse this month, NIS said. The company said it's hoping to be removed from the Office of Foreign Assets Control's Specially Designated Nationals List.
"NIS continues communication with the U.S. Department of the Treasury regarding its delisting request," NIS said Oct. 9, adding that "delisting is a complex and lengthy process."