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 company's owners three months to find a buyer.
Gazprom Neft controls 44.9% of NIS and Gazprom 11.3% while Serbia owns 29.9%, with the rest held by small shareholders.
Banks have stopped processing NIS payments and Croatia's JANAF pipeline has stopped delivering crude oil to the refinery. Officials estimate that the refinery will not be able to operate beyond November 25 without new crude supplies.
Energy minister Dubravka Djedovic Handanovic said on Wednesday that the government has approved imports of 38,000 metric tons of petrol and 66,000 tons of diesel for state reserves.
Meanwhile, Serbia's central bank governor, Jorgovanka Tabakovic, said that OFAC has warned the bank that it could face secondary sanctions over prolonged cooperation with NIS.
"We have received a warning, as an entity cooperating with a (another) business entity that is under sanctions. This is a serious warning for us," Tabakovic told reporters in Belgrade.
The Russian owners of NIS said at the start of November that they were ready to give up control of the company.
On Sunday Serbia's populist President Aleksandar Vucic said that the Balkan country wants to avoid nationalising Russian assets and is ready to make an above-market offer for NIS if Russian negotiations with unidentified Asian and European partners fail.
(Reuters, November 19, 2025)