Washington is demanding that subsidiaries of Russian energy giant Gazprom sell their stake
The US has extended a temporary sanctions waiver for a Serbian oil firm, to allow more time for negotiations over the sale of its Russian-held stake, officials said Wednesday.
Petroleum Industry of Serbia (NIS) has faced US sanctions since January 2025 as part of a crackdown on the Russian energy sector following Moscow’s invasion of Ukraine.
Washington is demanding that Gazprom Neft and its sister company, Intelligence, both subsidiaries of Russian energy giant Gazprom, sell their combined 56 percent stake as a condition for lifting sanctions.
The company has for months been negotiating a sale of the stake with Hungary’s energy giant MOL, with the US repeatedly extending sanction waivers during the process.
