PRINT
License No. MUL-2025-1355297-7
RUSSIAN HARMFUL FOREIGN ACTIVITIES SANCTIONS REGULATIONS
UKRAINE-/RUSSIA-RELATED SANCTIONS REGULATIONS
LICENSE RENEWAL
(Issued under the authority of one or more of 50 U.S.C. §§ 1601-51, 1701 et seq., Executive Orders 13660, 13661, 13662, 13685, 14024, 14039, 14065, 14066, 14068, 14071, and 14114, and 31 C.F.R. Parts 501, 587, and 589.)
To: NIS ad. Novi Sad
c/o Steptoe LLP
1330 Connecticut Ave., NW
Washington, D.C. 20036
Attn: [ ]
1. Based upon the request dated March 17, 2025, and additional correspondence dated March 18, 2025, March 19,2025, March 24,2025, March 25, 2025, March 27, 2025, April 1, 2025, April 21, 2025, April 24, 2025, June 19, 2025, July 17, 2025, July 23,2025, August 21, 2025, August 25, 2025, September 18, 2025, September 24, 2025, September 28, 2025, and September...
Click the appropriate link below for access to this file.
Click the appropriate link below for access to this file.
1) This SL authorizes certain dealings with an SDN oil refiner in Serbia that was added to the SDN List (pursuant to EOs 14024 and 13662) due to Russian government ownership. This is the seventh iteration of the SL, which was extended several times pending negotiations for the divestment by the Russian shareholders. The SL is notable as an example of OFAC’s implementation of a licensing policy concerning the continued operation of Russian-owned energy assets in allied or neutral countries where such assets are critical for the host country’s energy needs, as is the case with NIS (see generally https://en.wikipedia.org/wiki/Naftna_Industrija_Srbije).
2) One notable aspect of the SL is that the “Licenses” include all “U.S. persons,” such that the SL operates as a sort of GL...