What does the suspension of NIS sanctions mean: These are all the details

The entry into force of the full-scale sanctions imposed on NIS by the US Ministry of Finance has been postponed until March 28, 2025 at the latest, according to the document (license) delivered to the company by this institution.

The license enables unhindered performance of the following activities:

• Maintenance of business, contracts and other agreements involving NIS or its operating subsidiaries
• Execution of all transactions with NIS and its operating subsidiaries, which are aimed at fulfilling the contract
• Disposition or transfer, or enable the disposition or transfer of debt or equity issued or guaranteed by NIS or operating subsidiaries ("Covered Debt or Equity") to a non-U.S. person
• Facilitation, clearing and settlement of Covered Debt or Equity trades on orders placed before 4:00 PM ET on January 10, 2025
• Execution of financial derivative contracts (directed towards their fulfillment and their termination (“wind-down”)) that were concluded before 16:00 Eastern Standard Time on January 10, 2025 and that (i) include NIS or its operating subsidiaries as a counterparty or (ii) are associated with Covered Debt or Equity
• Official affairs of diplomatic or consular missions outside the Russian Federation involving NIS or operational subsidiaries.

NIS will use the period of suspension of sanctions to continue working in cooperation with shareholders to find solutions that will enable the smooth operation of the company in the long term and ensure the energy stability of the Republic of Serbia.

The company's priorities, as before, remain the orderly supply of the domestic market with all types of oil derivatives, the preservation of regular operations and the care of employees. The supply of the chain of NIS gas stations is regular, and the Pancevo Oil Refinery operates in normal mode, delivering all the necessary oil derivatives to the market.

NIS, for its part, will do everything to overcome in the shortest possible time a small number of difficulties related to payment transactions that occurred at NIS gas stations due to the application of sanctions from certain institutions.

NIS continues to carefully monitor the current situation, and will promptly inform the public about any new circumstances that may affect the company's operations.