The US Treasury Department has extended a sanctions waiver on Serbia's Russian-owned NIS oil company until March 20, allowing continued crude oil imports and product supply to regional markets.

The US Treasury Department has extended a sanctions waiver on Serbia's Russian-owned NIS oil company until March 20, allowing continued crude oil imports and product supply to regional markets. The waiver provides additional time for negotiations on divestment of majority stakes held by Russia's Gazprom entities. Hungary's MOL signed a binding agreement in January to acquire these Russian stakes, with the UAE's ADNOC becoming a minority shareholder. Serbia's energy minister plans US talks next week to seek solutions regarding ongoing sanctions. The extension reflects complex geopolitical dynamics balancing energy security, sanctions enforcement, and regional stability as negotiations continue toward resolving Russian ownership in Serbia's only oil refinery.