Serbia's Russian-owned oil company NIS has requested a special licence from the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) to continue operating during ongoing efforts to resolve its sanctions crisis.

OFAC placed sanctions on Russia's oil sector in January, but for NIS, which operates Serbia's only oil refinery, they were postponed repeatedly before finally taking effect on October 8. "In line with the status of the negotiations between shareholders and interested parties, a request has been submitted to OFAC for a new licence that would enable the company's operations to continue, while negotiations on a sustainable solution for NIS are ongoing," the company said on Wednesday. Washington is seeking complete Russian divestment from NIS and last week gave the compan

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