Specific License Reported by Naftna industrija Srbije (NIS) (Feb. 27, 2025) (License No. MUL-2025-1335128-1)

Date issued: Feb. 07 2025

TURBOFAC Commentary (147 words)

Notes:

1) An entity blocked on January 10, 2025 reports receiving a specific license effectively extending the expiration dates of Russia-related GL 117, Russia-related GL 118, Russia-related GL 119 and for one month with respect to a Serbian entity owned over 50% by Gazprom Neft. The company reports receiving what appears to be, in effect, a sort of “maintenance” license that went even beyond the scope of the pre-existing wind-down license (“Carrying out business, contracts and other agreements involving NIS or its operating subsidiaries”). It is not clear what the relationship is between the company’s characterization of the license and its actual language, but this is nonetheless a notable data point as it relates to the issuance of specific licenses that, in effect, extend wind down GLs.

2) See PDF file for license cover page, released by the Prime Minister of Serbia.