Former Assistant Minister of Energy for Oil and Gas Raša Kojčić expressed hope that the U.S. Office of Foreign Assets Control (OFAC) will issue a positive response to the request submitted by the Russian shareholders of Naftna Industrija Srbije (NIS), allowing the Pančevo refinery to continue operating normally.
“We need to wait for OFAC’s response and remain cautious, but I hope it will be positive so that our Pančevo refinery can keep running without pressure regarding crude oil supply through JANAF,” Kojčić told RTS.
He emphasized that ensuring Serbia’s energy supply security is the top priority and noted that all stakeholders are working to either lift the sanctions or allow the company to operate freely until a final solution is reached. According to Kojčić, the Russian owners are open to cooperation and are seeking a sustainable solution for NIS.
“The very fact that this letter was sent shows that negotiations are underway — whether with companies or investment funds, we will find out soon. The most important thing is to reach a solution as quickly as possible,” he said.
The letter requests a postponement of sanctions enforcement — effectively an operating license extension for NIS. Kojčić added that the proposal likely indicates an intention to restructure ownership or management in a way acceptable to the U.S. side.
“As we’ve seen in the region, Lukoil — also under U.S. sanctions — managed to find a solution, even though many said it wasn’t possible,” Kojčić noted.
