Shares of the Oil Industry of Serbia (NIS) will remain suspended from trading on the Belgrade Stock Exchange until January 28th, following the imposition of sanctions by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC). The company was added to the SDN List (Specially Designated Nationals and Blocked Persons) on January 10 as part of broader sanctions targeting the Russian energy sector under Executive Order 14024.
This suspension follows the announcement that sanctions on NIS could impact its operations and share prices. Prior to the suspension, NIS shares were trading at 718 dinars (6.12 euros), but had risen by 43 dinars (0.37 euros) on January 10, just before the sanctions were revealed.
NIS shares had previously peaked at 900 dinars (7.68 euros) on April 9, 2024, but dropped to their lowest point of 622 dinars (5.31 euros) on December 16. The recent decline in value was further accelerated after Serbian President Aleksandar Vučić warned of potential US sanctions due to the company’s Russian ownership.
