The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has extended a sanctions waiver for Serbian oil company NIS until October 30, 2026. NIS, with Russia as its majority shareholder, operates the sole oil refinery in Serbia. The announcement was made by Serbian Energy Minister Dubravka Djedovic Handanovic on Wednesday. This decision provides Serbia with a continued reprieve from sanctions impacting the company. Simultaneously, the extension allows for a further period of several months for gas deliveries from Russia to continue. The move underscores a complex geopolitical situation involving Serbia, the United States, and Russia concerning energy supplies. This arrangement impacts Serbia’s energy security and its relationship with both nations.