Serbian President Aleksandar Vučić said on Tuesday that Serbia expects a response from the U.S. administration within the next three days regarding the extension of the operating license for Naftna Industrija Srbije (NIS).
Speaking to journalists on the sidelines of the World Economic Forum in Davos, Vučić stated that he believes a preliminary agreement between Russia’s Gazprom Neft and Hungary’s MOL Group on the purchase of the Russian stake in NIS could be sufficient to prompt flexibility from Washington.
“All the key elements of the agreement are included, there are no secrets. We fully complied with everything requested of us regarding various options,” Vučić said, adding that he sees no obstacles to extending the operating license until the transaction is finalized, according to the Beta news agency.
OFAC Approval Key to Major Energy Deal
For the transaction to be completed, approval is required from the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC).
NIS is currently under U.S. sanctions due to majority Russian ownership, and the lifting of sanctions is conditioned on Russia’s exit from the company’s ownership structure.
On January 19, Hungary’s MOL Group confirmed it had signed the main binding provisions of a framework agreement with Gazprom Neft to acquire 56.15% of NIS shares.
Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović, confirmed that NIS has formally submitted a request to the U.S. administration for a license extension while negotiations continue.
Talks with Croatia on Energy Security
Vučić also met with Croatian Prime Minister Andrej Plenković in Davos. According to Vučić’s Instagram post, discussions focused on NIS-related issues, the broader energy situation, and ensuring stable supply under complex conditions.
Crude oil supplies for NIS’s Pančevo refinery are transported via Croatia’s JANAF pipeline, underscoring the regional importance of energy cooperation.
Gas Cooperation with Azerbaijan
Vučić announced that he expects Azerbaijani President Ilham Aliyev to visit Serbia soon, expressing confidence that an agreement on a gas-fired power plant near Niš will be finalized.
“Azerbaijan will deliver gas via the Bulgaria interconnector built together with European partners. This will bring new jobs to southern Serbia,” Vučić said.
Serbia signed a natural gas supply agreement with Azerbaijan in September 2024 as part of efforts to diversify energy sources and reduce long-term dependence on Russian gas. The Bulgaria–Serbia gas interconnector, partially financed by the EU, entered trial operation in December 2023.
Possible Official Visit to China
Vučić also said he expects an invitation for an official visit to China, describing it as highly important for Serbia. While preparations have been ongoing since late 2025, no specific date has been announced.
Serbia’s deepening cooperation with China since 2012 has drawn criticism from Brussels and Washington.
Vučić on US–EU Tensions
During a Davos panel, Vučić warned that tensions between the United States and the European Union will not be temporary.
“They will last for quite some time, and in the end we will all have to pay the price,” he said, adding that daily policy-making driven by tariffs creates uncertainty and undermines long-term planning.
The tensions escalated after U.S. President Donald Trump revived the idea of U.S. control over Greenland, followed by threats of 10% tariffs on imports from eight European countries.
The EU has pledged a “firm, united, and proportionate” response.
