The United States has postponed sanctions on Serbia’s oil company NIS for a third time, extending a grace period until June 27, Serbian President Aleksandar Vucic announced early on April 26.

Sanctions on NIS were first introduced by Washington on January 10 as part of a broader package targeting Russian-linked entities in response to the war in Ukraine. The Treasury Department has called for NIS to cut ties with Russian capital, particularly its majority shareholder, Gazprom Neft.

“Good news for the citizens of Serbia. Serbia managed to get a new postponement of sanctions for NIS, this time for two months, until June 27. Thank you to our American partners for understanding Serbia's position,” Vucic said in a post on Instagram.

The delay follows a new request submitted by NIS earlier in the week to the US Treasury Department’s Office of Foreign Assets Control (OFAC), seeking a special licence to maintain operations beyond the original April 28 deadline. The current licence, issued on March 28, was set to expire at 6 a.m. CET on April 29.

While Gazprom Neft reduced its shareholding in NIS from 51% to approximately 46% in February, the parent company Gazprom simultaneously increased its stake by 6%. Gazprom itself is not currently subject to US sanctions.

NIS, a key player in Serbia’s energy sector, is seeking removal from the US Specially Designated Nationals (SDN) list – a process the company says could take time. A formal application for delisting was submitted on March 14.

The extension comes amid signs of a significant shift in Washington’s sanctions policy. President Donald Trump’s administration, which took office in January, has instructed OFAC to re-evaluate existing measures and consider lifting some restrictions on Russian-affiliated firms. 

NIS continues to be vital to Serbia’s energy infrastructure, overseeing oil exploration, production and refining. The company also exports fuel to neighbouring countries including Bosnia and Herzegovina, Romania and Bulgaria.

It remains unclear whether the US will grant further extensions or proceed with enforcement later this year. But analysts say fresh punitive measures on Serbia appear unlikely as Washington seeks to ease tensions with Moscow. For now, NIS is hoping the latest reprieve marks a step toward a more lasting resolution.