Serbian oil company granted temporary extension of permission by the US authorities.

On December 24th local time, the Serbian oil company received a new special license from the US Department of Treasury responsible for sanctions affairs. The relevant license has been extended until March 24th, 2026. The new license allows the Serbian oil company to continue negotiations on adjusting and selling Russian equity under the sanctions framework, providing time for the parties involved to seek further negotiated solutions. However, the issuance of this license does not mean that the company can conduct all its business activities normally. During the validity period of the license, the company still does not have authorization to fully restore daily production and commercial operations.