US Extends License for Croatian Oil Transporter to Serbia

The US Office of Foreign Assets Control (OFAC) has extended a license to Croatian company JANAF, allowing it to transport crude oil for Serbian company NIS until September 30, 2026. The license was granted with the assistance of the Croatian government and US legal advisors.

JANAF receives the crude oil by sea at its terminal in Omišalj on the island of Krk and transports it via pipeline to Serbia, where it is used by the NIS refinery in Pančevo. The refinery meets about 80% of Serbia's demand for petroleum products, with a design capacity of up to 4.8 million metric tons per year.

The extension of the license is particularly important due to low water levels in the Danube, which have reduced the capacity to import fuel by barge this summer. As a result, Serbia has become more dependent on supplies via JANAF and NIS's own refinery.