The CEO of Srbijagas, the state gas company, announced that Serbian oil company NIS has filed a second request to the U.S. seeking a sanctions waiver, as it faces potential crude supply disruptions due to sanctions. NIS operates a single oil refinery in Serbia, meeting a significant portion of the country's oil needs. The U.S. Treasury's OFAC had imposed sanctions on Russia's oil sector, giving Gazprom Neft, a majority stakeholder in NIS, a deadline to divest its ownership in NIS. In an effort to address sanctions, NIS sought delisting from the sanctions list through legal channels. The OFAC had previously delayed sanctions for 30 days to allow discussions between the companies. Gazprom Neft transferred a portion of its NIS stakes to Gazprom to mitigate sanctions. However, uncertainties remain about U.S. authorities' response to these ownership changes. Currently, Gazprom Neft owns 44.85% of NIS, Gazprom holds 11.3%, the Serbian government possesses 29.87%, and the rest is owned by small shareholders. NIS mainly relies on imports for its oil needs, supplemented by domestic production. Discussions are ongoing regarding the potential sale of Russia's stake in NIS to Croatia's Janaf.